Mortgage is ~$500/mo, collecting rent of $600/mo...not much wiggle room with the 50% rule there.

Hey Everyone,If I transferred some assets to either a SD IRA or Solo 401k, would I be able to provide a mortgage loan to myself as an investment? 

That being said, I would love to hear what your mortgage and payment strategy would be.

My idea of getting into real estate investing was coming up with 20% of your own money (that's 60k where I live for a low end property), traditional residential mortgage, net maybe $200 a month if I was lucky and repeat the process when I came up with another 20% until I had maybe 40 properties.

If the seller is a private person you may be able to do a short term Wrap ( basically this is you wrap your mortgage around theirs).  

What if you buy your first property, and then you apply for second mortgage to by a rental home or house for you.

I imagine they are adding mortgage payments as an expense.

Properties are generally much cheaper relative to the rent they pull in, than in NY.3) Lower fixed costs - lower real estate taxes for starters relative to your rent roll, etc.4) Lower variable costs - labor is A LOT cheaper here.  5) Less stringent code enforcement.6) Less maintenance - milder weather, and younger average age of homes make for less maintenance.   7) Diversification - low entry price to buy property allows and investor to manage risk by buying properties in different neighborhoods instead of putting more eggs in one basket.In additional to the benefits I listed above the city is growing so fast that homes rent very quickly, often times before the sale of the home.  

If they answer 'yes' or something similar you have a couple ways you can make that happen, depending on the underlying mortgages on the property (explained briefly below). 

I've been a Mortgage Underwriter for 8 years and looking to transition into investing!