We're embarking on our first rental property and its a doozie. The sellers are asking $1.5M for the property and we believe its only worth that once approx $350K of repairs and improvements have been completed.
The question I have is, is there any way, other than incorporating the rehab into the original purchase price, to calc lener points and interest on the rehab costs? It would seem obvious to me that it'd be needed, but I'm not seeing where to do it.
Any insight, much appreciated.
@Mark McCormick just wondering... have you gotten an answer or found a work-around to this. I have come to the same conclusion you have (to add them into the original loan -- and note in the comments what the repair costs are)