I'm leaving my current job at an artist management and booking agency to obtain my NY State real estate license at the beginning of 2019.

They would defer their capital gains tax for 30 years and they would obtain about 93.5% of the net sales proceeds in cash at closing.

This property is gutted and unable to obtain a conventional loan at this time.

I have 2 deals under my belt and have a plan to obtain a 3rd.

Or just help in general with obtaining a line of credit Thanks 

Fortunately you can get one for a couple hundred dollars.

ok cool it just switch from servicer to HUD a week ago they hadn't even listed it yet I found house driving for dollar and called owner.

I could HI Kevin,This transition that you're asking about above is extremely important to transition smoothly and plan for because it will ensure your subsequent VA use for additonal purchases.Once the current property is refinanced with a non VA loan this will free up your entitlement for additional use.The max conv limit in Ventura county Ca is 672,750 and the max loan limits for a high balance loan can go up to 95%.So what this means is theoretically you could refinance up to 672,750 loan amount with an appraisal as low as 708,158 dollars or higher before your loan is subject to jumbo/non conventional guidelines (much tougher to qualify for and has lower LTV's).The VA loan has some key features that other loans dont have:- a trade off of no monthly PMI but the upfront PMI is huge, equivalent to 2.15 - 3.30 Points (borderline hard money points).

I agreed, mistakenly thiking that we would be able to obtain a owner-occupied mortgage with the intention of moving in, meaning when the 6-month lease is up end of January.

Depending on how much cash is actually left, 10-20 cents on the dollar seems like a likely outcome.These weren’t just poor performing properties that investor’s money was put into, but much newer investors money went to earlier investors and is gone, like Madoff.