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What is the best way to finance the purchase of a distressed property with no money down to minimize payments?

I own one home and am relocating. I would like to buy a distressed property at about 80% of its actual value (and have located two), but I want to minimize my monthly payments until my other house is rented out or sold (in a slow market) so that I am not stuck with two mortgages. Although I have been approved, the cost of two mortgages simultaneously will be too much for more than a few months.

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