This is for a personal residence and not and investment property although our current home could become a rental property.For starters our house (by our house I mean my wife and I) is not on the market yet and the house we are looking to buy is teetering on the edge of foreclosure.

A garage is not a residence, so LL/Tenant laws generally don't apply (as long is it is not tied to the residence agreement).

In fact I'm moving my family up there (I'm being vague on purpose) tomorrow when we close on our personal residence.

It is in a community with 88% occupancy of housing and around 2500 residents.

If you have a HELOC on your primary residence you could use it to purchase the property.

I just called the lender who we refi'ed with a month ago on our personal residence which we had a HML out on.

I'm reading the book How to Find Hidden Real Estate Bargains by Robert Irwin and in the first chapter he mentions the possibility of buying a property at 50% off the market value.I am moving to a very expensive big city and am looking for a place to purchase as a personal residence.

I just bought a new primary residence.

Important to know this will be our personal residence as we're doing our current home as a lease option.Thanks

You may well get a batch of residents along with the house, and then have to evict them.