Here is our current dilemma that I'm hoping someone could provide some insight to: - We both have the funds to purchase the home with cash, but those funds are tied up in CD's until March, so we will need to apply for a loan in the meantime.

Hi Romie, I have a lender that waives their seasoning period if you have done a renovation of at least $10k to the property since taking ownership.

You stated that you are under rent control, does that also mean you can't raise the rent on the next tenant to market rate?

All of our investments are currently in PA.

That's pretty harsh. 

I want to assure that I, as the Lender, get paid FIRST if there is an insurance payout.

It’s awesome that you’re weighing both options!

I know that cash flow can be alluring...but I see you are in Ogden- I'm just over in Boise and our markets are pretty similar. 

Are there any REI meetups in the area? 

I’m specifically looking for properties with potential that are priced under $200k.I had a Chapter 7 bankruptcy discharged approximately 2.6 years ago, so I’m currently eligible for FHA loans.