Our main concern is rehabbing a house long distance with a contractor.

That could be $0, it could be a few thousand (I'd sell if I had to carry the thing for more than 4 months..)My other concern is that keeping this as a rental forces me to buy the new house with an 80/20.

Ryan is exactly right as far as Texas is concerned.

That is how you end up with a 6% - 6.5% rate today.If a US lender is offering 1% mortgages, its only because they are deferring the other 4% plus to a balloon payment down the road 1 year or 3 years later, which sounds good up front but will cause an estimated 1.7 million foreclosures in 2007 because of these sneaky (but legal) loan practices.We have found a way to bring Japan's financial stability and low financing to the rest of the world.

Since then then the foreclosure rate in the area has caused the value of his new home to drop to 125,000.

Hi, I have a few questions as far as buying Real Estate are concerned:1.

Caveat: Going the HELOC approach makes sense if you are borrowing money from yourself on the short term; if you intend to rent and refinance, my concerns are moot.

You are the "procuring" cause of the sale and are receiving funds for it.

As far as property management is concerned that's something I'll take care of myself.

As I said, this will be my first rehab investment and I welcome any warnings, concerns, ideas, criticism, etc.