I was just wondering what your goal. are you going to live in the house? or just an investment. i have been attending seminars on real estate investing and let me tell you this. you are in a good position to be investing
right now. how about getting a little money from your house equity enough for down payment and a little extra,
then buying that property lower than they want, then rent your house that might be enough to pay the mortgage and possibly more for a little monthly extra cash flow for you.ask for longest time of mortgage so the monthly is lower. if you have extra money, you can always pay extra but your monthly obligation is lower just in case there is no renter. also make sure to hire property manager to manage the property.
Good luck.... more