also, a hard money lender letter will be just as useful as their proof of funds letter, and if you assign the contract, you don't even have to come out of pocket.

On that size a deal, actually anything other than a 2 day paint job, ALL FUNDS ARE PAID FROM THE ATTORNEY'S ESCROW ACCOUNT.

FHA is making a come back and people are really starting to realize the benefit. 3% down, gift funds allowed, non-occupying co-borrowers and on and on.

if not then if you have sufficient proof that the home is worth what you are selling it for then it a rep should be able to get an underwriters signature.

You are setting yourself up to be the classic burnt out landlord in a few years.From your comments it sounds like you don't understand how banks like to fund investor deals and you are expecting something they don't provide.

Has anyone secured equity from a hedge fund?

I keep 6 months worth of typical expenses (including mortgage payments) in a cash management fund.

If you have cash, offer to fund their next deal...if you have good credit, offer to use your credit on a deal...if you have time, put in the time first and then SHOW them your efforts or bring them a deal.

I am a doctoral student with: [list]little debt (car loan and 35k in student loans), little assets (3k in an index fund, 7k in a target retirement fund/Roth IRA, 1k in individual stocks, 5k in cash), little income (just my student stipend of less than $20,000/year and another $2-3000 from web design and illustrating jobs on the side), and a little family (wife and two kids).

Its that last transfer that will get you into trouble if the lender does not know its occurring.If you have the cash to fund the downpayment and rehab, or can get it from some other source, that's the best way.Gregor's right.