Were I don't have to make any payments for 3 months.

But I like the cleanliness of some of the programs with the convenience of online payments, work orders, background checks, leases, etc...  

I could tap the equity in my primary residence, roughly 350K as a nice down payment on a 1 mil apartment complex in Vegas.

Either do a partial exchange or buy two replacement properties to equal your reinvestment target - use the 150K as two down payments or buy one property for 125K cash and use the other 25 as down payment on a $75 or $100K property.Or just pay a little tax and shelter some tax.  

The upside to this is I'm currently locked into a 30 year 6% interest loan and the new loan would be a 15 year 3.5% so my monthly payment would only be about $300 more and I'd get the second property and I'd have a 15 year loan.  

Here's the numbers:Single family house in NE San Antonio. 1,456 square feet, 3 bed 2.5 bathPurchase price: $105,000Rehab; $20,000Hard money loan: $112,500Cash out of pocket (From HUD stmt):$12,500 (down payment)$2,250 (points)$385 (lender fees)$892.50 (title fees)$1,320 (insurance)-$2,001.34 (credit for unpaid taxes)Total: $15,346.16Actual rehab cost: $19,678.12Hold time until rehab and refinance complete: 98 daysInterest expense: $3,020.55Refinance loan terms: 30 year adjustable rate mortgage at 5.75% interest fixed for 5 years at 85% LTV and 1 point.Appraised value: $164,500Cash-out refi amount: $139,825Cash back in my pocket after lender fees, title fees, down payment, interest expense, insurance, etc are all accounted for: $5,389.50Now the place is rented for $1,200 a month and I figure I'll pocket about $200-$300 a month after expenses and mortgage payments and in the end, no money tied up in the deal!

Since we would be looking at our first property and owner occupying, we are looking to utilize a FHA loan to get 3.5% down payment.

I was also going to purchase with cash from the HELOC, use the rental income to make the HELOC payments, season the property for a year, and then attempt to refinance.

Hello all,For a little over a year now Ive been trying to get as much info on flipping and inventing in real estate as possible.For the longest time having enough savings for down payments was my biggest obstacle.

@Kevin RodriguezYou could also increase the rate a little, do lender paid MI so it doesn't show up as a separate  component of your monthly payment and then get a better deduction on your income taxes.Stephanie