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[CO] Have a chance to buy my first investment property from a family member. I have a lot of questions!

My cousin is moving to Germany. She and her family are going to sell their townhouse in Colorado within the next three months. I have been playing with the idea of getting a rental property for over a year now and she says she would be happy to sell it to me. I started looking into it and oh my gosh are there a lot of questions to ask. Here are the ones I have so far:

Can I buy a rental property without 20% down? Everything I am reading says that is necessary and that PMI isn't offered on rentals, but I have a much older friend who owns properties and he says it isn't required until you have more mortgage debt.

Do investment properties add ~1% to the APR of the loan? If a mortgage APR right now for a home-buyer would be 4.125%, would mine be 5.125%?

Since this is a sale within a family, how cheaply can the house be sold to me? I have extremely high trust with my cousin and would be happy to do whatever is the most cost-effective sale process.

What other questions should I be asking?

submitted by /u/Shadoninja
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source https://www.reddit.com/r/RealEstate/comments/cjkviq/co_have_a_chance_to_buy_my_first_investment/
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