I had a discussion with a land bank official a few years ago who explained to me that out of the thousands of tax-delinquent houses foreclosed by the county and sold at auction every year, only the ones that no one bid on are transferred to the landbank... it means you really get the worst of the worst... + there's a trick, the LB will sell it to you for a low price... in exchange of your signature on a development agreement leaving you with a 6 months to 1 year to do extensive (and expensive) repairs to bring to properties up to code.

I assume he's planning on paying cash, because no bank or automotive company who finances or leases the car to him is going to approve its use in this purpose since the vehicle is secured asset collateral for the loan. 

I can't think of a way for him to still leverage the 1031 exchange on the sale of Property B while doing seller financing (or otherwise me securing financing for the 2nd property with the limited available cash)My question is:Anyone have any unique or creative solutions for how to acquire both properties with the cash I have?

However, the seller knowing my specialty, countered asking me for a proposal with more upside for the seller or to do a rental arbitrage.My initial offer was a 5% upfront cash payment, 15 year repayment plan at 4% interest and attempt to refinance within 7 years to repay the seller in full and secure more traditional financing.  

We had planned to renovate the entire place ourselves.List of violations:properly repair with similar material the broken or defective sheet-rock at east wall inside base cabinets in the kitchen located at apt 2fl, 2nd storyproperly repair with similar material the broken or defective ceramic tiles floor in the bathroom located at apt 2fl, 2nd storyproperly secure the loose base-molding at walls in the 2nd room from north at west located at apt 2fl, 2nd storyproperly repair the broken or defective counterbalance at upper sash south east window in the 2nd room from north at west located at apt 2fl, 2nd storyproperly repair the broken or defective counterbalance at lower sash south window in the kitchen located at apt 2fl, 2nd storyreset, so as to secure a proper and tight connection, the water closet bowl .."

We had planned to renovate the entire place ourselves.List of violations:properly repair with similar material the broken or defective sheet-rock at east wall inside base cabinets in the kitchen located at apt 2fl, 2nd storyproperly repair with similar material the broken or defective ceramic tiles floor in the bathroom located at apt 2fl, 2nd storyproperly secure the loose base-molding at walls in the 2nd room from north at west located at apt 2fl, 2nd storyproperly repair the broken or defective counterbalance at upper sash south east window in the 2nd room from north at west located at apt 2fl, 2nd storyproperly repair the broken or defective counterbalance at lower sash south window in the kitchen located at apt 2fl, 2nd storyreset, so as to secure a proper and tight connection, the water closet bowl .."

But, waiving all your rights to secure a property is quite another.

It will be hard to secure a traditional loan without enough income to keep your DTI ratio in line with the requisite thresholds.

Hey BP fam, i currently have a self loan through my own personal bank to help establish some credit now should i wait till its paid off to get a secured credit or should i get one already and also should i get another personal loan through another bank to build credit as well?

I'd like to create an official rent contract applied to the room they'll be staying in, but want to ensure this is fine within context of the loan (assume primary occupancy still valid since only renting room).