After you understand the rules and you do not see any explicit language or restrictions on MTRs or LTRs with owner occupancy, you can lean into options like a roommate agreement or an owner occupied lease for your new renter.

A detailed lease that outlines rules, fees, and maintenance responsibilities keeps everyone on the same page.Ignoring preventative maintenanceLittle issues become big ones fast.

Just a reminder to all out there to stay up to date on Fair Housing rules and the protected classes in your state.

The reality is a property worth $375 that can rent for $2100 max is always going to be a poor rental.Using 50% expenses (50% rule)2100 (rent) - $1050 (expenses other than mortgage) - $2047 = negative $997You can see even at a 40% expense ratio, this would be negative)   Even at 30% expense ratio this is negative.  

For an investment‑property HELOC, shop local banks and credit unions; ask about interest‑only periods, draw‑as‑needed, prepayment fees, max LTV, and seasoning rules for the refi.

Presuming this is a vacant house and it was a foreclosure auction, stretching the rules may be required.

I have clear house rules that covers pets and require a signed renter's agreement that speaks to the same.2.

But you need a lot more than just a lease:- residential lease- rules & regs- lead disclosure- smoke detector notice- non-standard lease provisions- pet agreementThey have pdf's but I recommend the US letter size carbon copy paper (not the long legal size paper format) and wet sign.

From the lending side though, it is very difficult to fund condos and the lenders are very strict with their rules around condos.

Turns out that the buyer is a Real Estate Attorney.She was also not told anything about the new Real Estate Commission Rule change about who pays the buyers agent or if they even have to do it or not.