If the deal is structured correctly and your lender calculates out the costs correctly, you can get in for simply 3.5% out of pocket.

@Jean BolgerFannie Mae HomePath loans no longer exist, you are correct.

In today's inspection, my head touched the doorway to a bedroom and I'm only 5'11".Is the city going to make you demolish the whole thing or will they let you just correct anything which violates codes?

If I remember correctly, I found this property using Zillow.

IT Security Testing and Monitoring should:  Monitor Threats;  Evaluate emerging threats;  Monitor for external vulnerabilities and develop mitigation strategies;  Perform periodic self-assessments;  Adopt timely corrective action of significant deficiencies;  Consider business continuity and disaster recovery;  Assess the scope impact and urgency of new threat vulnerabilities; and  Reassess the security environment and enhance as necessary.

Not sure if I understand your numbers correctly, but if you have equity in your main home you can always refinance and take out cash and use that as a down payment for the next house.Before you decide to move on to another property it is very important that you have a reserve to cover around 3-6 months of the rental expenses for each rental. 

I am just recently starting to make good money in the job, so I agree that saving and budgeting correctly is a huge part of it for me.

Would I be correct in this assumption?

Moreover, I'm sure it is a dynamically more cost effective alternative to real hardwood; granted, I wouldn't want it at my PR, if its staged correctly and accented as such, I think a creative person could make it really pop.

IF, FOR ANY REASON, SELLER (A) IS UNABLE TO MAKE THE TITLE INSURABLE OR CORRECT TITLE PROBLEMS OR (B) IS UNABLE TO OBTAIN TITLE INSURANCE FOR THE PROPERTY FROM A REPUTABLE TITLE INSURANCE COMPANY AT REGULAR RATES OR (C) DETERMINES IN ITS SOLE DISCRETION THAT IT IS UNABLE OR IT IS ECONOMICALLY NOT FEASIBLE TO CONVEY GOOD AND MARKETABLE TITLE TO THE PROPERTY INSURABLE BY A REPUTABLE TITLE INSURANCE COMPANY AT REGULAR RATES, AT THE CLOSING DATE, AND SUCH CLOSING DATE IS NOT EXTENDED OR OTHERWISE AMENDED IN THE SOLE AND ABSOLUTE DISCRETION OF SELLER AS SET FORTH ELSEWHERE IN THIS AGREEMENT, OR (D) DETERMINES, IN ITS SOLE DISCRETION TO DEEM THE AGREEMENT NULL AND VOID IF REQUIRED BY APPLICABLE LAW, AND/OR REQUIRED BY ANY EXISTING CONTRACT OR AGREEMENT BINDING UPON SELLER AND/OR THE PROPERTY, INCLUDING, WITHOUT LIMITATION, ANY AGREEMENTS WITH THE PRIOR OWNER OF THE PROPERTY, ANY MORTGAGE INSURER OR ANY MORTGAGE BROKER, THEN SELLER MAY CANCEL THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT BY WRITTEN NOTICE TO THE OTHER PARTY AND THE ESCROW/CLOSING AGENT.