Which I also would tell you that if you have trouble managing finances and poor credit I strongly advise against real estate as its capital intensive and if you struggle now managing money having more money and real estate only exacerbates that issue.

Jimmy,You need to show (2) years of 1099 SE income in order to use FHA, or traditional financing to get approved for a mortgage.

If it does go to probate, hopefully your brothers and you can amicably go the informal route vs formal (I've worked with families in both when buying properties out of probate and informal is FAR easier).Since there's no debt on the house, maybe you could sell with financing or maybe you could even buy out your brothers with financing -- that way you maintain ownership and just pay them a monthly amount.

I'm a small business owner and my partner has a corporate job. 

They usually sell for a really attractive price because investment property financing is (obviously) difficult, somewhat limiting the buyer pool to owner-operator small business owners (who in turn are typically great clients, as well).  

Hello Ralph,Yes you can used a HELOC from another property as a down payment for a new one, then get traditional financing on the remaining 100K. 

Hey BiggerPockets Community,I’m Steven Menotti, owner of Menotti Construction Group LLC (KB-1 licensed) and a fellow real estate investor here in the Phoenix Metro area.

I’m over here on Big Island, up in the Kohala coast, and it offers some resort areas too on the sunny western side similar to Ko Olina on Oahu.So things to consider are:- Which Island- Your budget- Will you be financing or paying cash?  

To be honest, I´m in the Maintenance & Construction for corporate businesses for some US companies in Mexico and we do some Real Estate down here also, but it´s way much different than the US, so I have much to learn from a lot of people around here and as @Julio Gonzalez, I think this is pretty much the right pad and place to start and to break my fears to start all over again from scratchAlso, I´ld like to hear more from @Justin Brickman why he voted for his city, pros and cons, it will help to read from a local...As I said before, thank you all guys for taking the time to write in this post and share some experienceDo you plan to owner occupy. $40k will not get you a non owner occupied San Diego property unless you find some unlikely alternate financing.

However, many DSCR lenders have a minimum loan amount of $100K, which can make it challenging for investors to secure financing for lower-priced properties.