Alex,  it is really a personal decision. 

Coming out of pocket $20k just doesn't seem like a good investment when I can use that as a down payment on the next rental.I would like to make a decision before winter.

Family is very poor, so I couldn't ask for a loan from them to meet the requirements.

@Jordan FitzsimmonsWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

@Anthony Talarico JrWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

I'm unclear if that's a decision that can be controlled at the time of purchase, or is dictated by your financial account set-up with the bank.How do you and your spouse handle your accounts, and how has it impacted your financing options? 

@Kyle HarrisonWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

@Eric ArmstrongYou can read Tom Wheelwrights book for Rich Dad Poor Dad Company.

You would need to contact the decision maker at the bank or investor to even get the property under contract and that won't happen.Most banks use internal or 3rd party asset management companies to liquidate REOs.

I had a particularly difficult situation that was ultimately solved by the top guy there, who overruled the previous decision of someone else.