Posted by Ernest Tew on March 27, 2002 at 19:42:04:
With only a small down payment, you may find it difficult to get institutional financing on a property that needs a lot of work.
Why not bring in a joint venture partner to put up some of the money and make a larger down payment? It would be even better if your partner is experienced. Financing would be more readily available, the venture would be less risky, and you could learn from your joint venture partner.