I knew that in Michigan (and im sure across many states as well), you can purchase your first home with only  3% down on a conventional loan, or 3.5% down with a FHA loan.

We found a house we want to purchase.

hello all, I am trying to purchase a 2nd property and have a couple of strategies I can implement but i am truly at a crossroads .

I'm purchasing my grandma's house, 1st investment house,  from my father and he purchased the house about 49 to 50 years ago. 

I purchased them assembled and shipped (didn't trust the contractor to put them together). 

You also will see it when a home has not had many sales in 20-30 years and since it was purchased for $65,600.00 back in 1990 it took a huge increase in sale price of $275K based on 2024 sale price.

I just purchased 2 4 plex, and sent out a 60 day notice to increase rents.

You simply need to claim that you didn't get or weren't satisfied with your purchase. 

Purchase price was $640k and owe $340k.

It's important to analyze what went wrong to avoid making the same mistake again.I see a lot of new investors spend their very last dime purchasing a rental, then they have no money available to cover unforeseen events like what you experienced.