Hey all, my name is Aaron Sparks and this is a first time poster long time follower on the blog. I have a question in regards to HML and utilizing it to get a triplex under contract using a "cash offer" as the owner is looking for a strong cash offer. Is this possible without a renovation as all 3 units have already been renovated on the inside. Might just need a little work on the outside and there is potential for adding central air as it is currently set up with window units (very common in the midwest area I am currently looking). I feel it is a great deal and I don't want to get beat out on my first deal because I didn't have a cash offer.

If a HML requires a renovation, then would a new roof and AC added be sufficient to allow for the loan to go through? Just trying to make my first deal work any way that I can, so I can get started. Any advice would help tremendously!

Also, when would I be able to refinance out of the HML into a conventional loan?

Here are the numbers

Available funds : $15,000

Asking Price : $59,900

Zestimate: 112,421

Rental Income: $1,500/month (3 1-bedroom units)

Taxes approximately $200/month

Owner pays water