Financing first intentional buy and hold questions...
I have an opportunity to purchase a property with two homes on it near a local community college but have not bought a property as an investment only. I currently have a single family that was turned from my residence into a rental but this is all new.
Now the question, should I use the equity in my home and rental to finance the investment property? Conventional financing is not really an option for my wife and I because of our high debt to income ratio and I don't think that hard money lending would work in a buy and hold situation, am I wrong?
Not really looking for a "do this" but any advice would be helpful.
Thanks!