Bought during huge Michigan recession.

I am performing property title check, property in Michigan, and I see strange picture:March 1999 Quit Claim from "Jane" ex wife to "John" ex husband.August 1999 Mortgage given to "John" unmarried Man.September 1999 Discharge of mortgage, given to "John and Jane".

@Matt M. I

@CJ M. I

@Dennis M. - I debated that same logic of not having a huge cashflow but, would be in control of an asset that paid for itself. 

Yes you can do a 2 unit as owner occupied up to $930,300 - Expected loan limit increase in 2020 ~5% to $976,815 - This is the max loan you can get with it still being conforming for FHA and Fannie Mae. 3.5-5% Down plus approximately 6 months of Taxes and MI, costs are closer to 5% but the MI upfront is rolled into the loan.

I’m licensed in Michigan and we do them all the time at 30 year fixed.  

My name is Waleed, I’m 25 and live in Dearborn, MI.

@Mike M. I

In 1999, I bought a 1/4 acre lot in Northern MI.