A lot of hard money lenders won’t touch a deal once demo has started because they can’t verify the scope or what’s been done so far, but the ones who do this regularly will just underwrite it as a “rehab in progress.”Here’s your best path:1.

All of them - regular rental houses, STRs (short-term rentals), apartment buildings, office buildings, storage facilities and so on. *** Never put rental properties in S-corporations!

Always stress-test the deal.We run numbers three ways:• Worst case: inspection delays, tenant slow approvals• Base case: regular turn, normal rent• Best case: new voucher, max allowable rentIf it doesn’t cash flow in the base case, we’re not interested.5.

We regularly add walls to create an additional bedroom, instantly increasing the rent ceiling for Section 8.4.⁠ ⁠

Future rent increases are gifts, not a business plan.MHA raises rents regularly, but you never rely on it to justify a purchase.Cash flow has to work today, not someday.6.

@Jacob BurrJacob, in Medina County and the greater Akron area, crews that regularly handle apartment turn work tend to be the most reliable since they’re already set up for paint, cabinets, flooring, and quick turnovers.

if its an investmenet property - there are not many ( if any)  lenders doing regular or DSCR  loans on rental MH homes 

This is not a regular unit update request, it's a mobility and accessibility alteration.

If you let someone else manage it, then it becomes a little closer to owning a regular rental property.

A part of this as an REI is ensuring you have crystal clear financials down to the property level, actually reviewing them regularly, and using them to make better decisions.