Creative financing/Low or no money down/private funding
Hello BP Community!
I'm new to the real estate game! I'm sort of stuck between a rock and a hard place. A few years ago I house-hacked a duplex then starting saving up for another investment. In May I bought a fixer/upper single family home with cash with the help of relative and plan to either flip it or possibly BRRR if the market starts dropping. I'm currently using a combination of interest free Home Depot CC promotions and cash to fund the renovation.
Just recently, my W-2 job offered me a very attractive opportunity to relocate to Northern Michigan ASAP. I want to buy another duplex up there or a single fam house I can renovate. I really don't want to rent a place up there. I was hoping to rent out the other side of my duplex to exclude my mortgage to improve my debt to income ratio, unfortunately because I reported a loss on last years taxes for the duplex they said I have to rent the new side for an amount way higher than market averages.
I'm sort of tight on cash at the moment because of the fixer upper so I was hoping to buy with low or no money down (USDA). Also, the market in Northern MI is very expensive due to tourism with the explosive short term rental market.
If anyone has any ideas for creative financing it would be much appreciated? I was thinking of finding a rent own property but those are rare in a hot market and sellers generally ask for 15-30% down. Any insight or expertise in the area would be very helpful!
Thank you in advance,
Josh