You have, if memory serves me, 45 days after the sale of your home to designate up to 3 potential properties you will buy, and the purchase must be completed within 180 days of the initial sale of your home.Another option, if you are a qualified investor, is to do a 1031 Tenancy In Common (TIC) exchange.

you're right about non-rcourse, butr those aren't easy to find. in my scenario i won't have to go that route. the company i'm working with is at www.wolfecapitalgroup.com. the guy i'm dealing with is Tanner at 702-982-5226.i'll also be giving you a call.you did exactly what i'm doing, but you have to be very careful in the wording of your LLC and way you purchse it with self-directed IRA, or you'll have IRS problems.i found a good article at www.paladinregistry.com/LFP/article_detail.php?

I can think of lots of different scenarios, some where interest-only would be great, others where it would be a terrible idea.

There is a right answer to this scenario, I am an REO agent and have been for six years.

Sample scenario: 1st is $400,000 and 2nd is $100,000.

The seller did a termite treatment and we didn't see any visible signs of damage when we initially looked at the house and everyone said termites are very common.

Here's a few typical scenarios, #1- I control a few lots and some have a teardown and others are just raw land.

The MLS is the exact opposite of that scenario.

(If you get the "$2k job because the sewer line is separated and collapsed" I would get another opinion...that's the common BS I get sometimes.)

@Zach Kolb Unless that's common in your market, I don't know why you are doing a month to month lease instead of a year at a time?