If I build one spec on an all cash basis is there really any incentive for me to worry about the Umbrella coverage as long as I have the builders risk insurance?

One lender i use allowed it in one of their Jumbo programs, but have no issues as long as the loan is over $200,000.

He can take the deal as long as I can learn how its done.

At this point, the purchase is contingent upon a financing, acceptable inspection, and the city allowing us to excavate beside the driveway to create at least one addition parking spot as one of the main down falls is that it is a shared garage (with dividing wall) and driveway.That said, we have a purchase price of $38,500 locked in so long as everything goes as planned.

@Brandon Hamlin The advice I've seen is that as long as the deals you have are good ones, you shouldn't have any problem finding buyers.

I love real estate and don't know what else I'd want to do anyway so I don't really know why I'd want to stop growing my portfolio as long as the numbers make sense.

@James HaffnerVA & FHA (3.5% down) mortgages are only available for owner occupants for 1-4 units.You can buy a SFH occupy for a year or so then turn it into a rental, then repeat the process.You can also buy multi-family up to 4 units as long as you occupy 1 of the units.I've know several military who buy a property at each duty station, keep it as a rental when you get orders to new duty station.

I'd say a deal like this should have 10% of the sale price as the down payment and the front-end loaded note can be made so that is attained and then fall into the remaining amortized period.Sell the property for what it's worth, 8% is sufficient consideration, use the amortized period to provide you wanted monthly income, you could require a higher payment to principal to increase the down payment over time as long as they can really afford it, and affording should be determined by debt-income ratios not by an opinion, especially with any inclination of getting in their pocket from any personal issue.Good luck on your getting your RE license, as you go through that process you'll see the ethical aspects of dealing in RE and what I've said here will become clearer. :)

She has been in place since 2001 and would like to live there as long as she can.

Patrick Elderege at William Ravies is pretty good as long as you tell him exactly what you want.