Many ask for specific loan quotes without even having the most basic details ready.If you're seeking a private loan, be ready to answer the following on the very first call:Property AddressYes—know the actual address.

I'm just trying to think this through - "hiding" a basement is nearly impossible.

The following numbers have been rounded to make math a little easier hopefully:Loan 1 (FHA) balance: $210,000Loan 2 (HELOC) balance: $50,000Property is conservatively worth $360,000Rent would conservatively bring $2100/monthMy question:Would it be possible to get a DSCR refinance loan to pay off the two existing loans?

Therefore that gain is not added on to the operating profit of the LLC.  

I'm not sure what documentation to provide either, would a notice to quit be sufficient for this?

For example, search the forums here for a tiny glimpse on how many newer PMs/landlords complain about driving out to meet a prospect... only to be no showed or stood up by someone who had no intention or capacity to follow through from the beginning.Prescreening prospects to separate the window shoppers from those who meet and match your pre-determined, in-writing rental standards is critical to ensure you're not wasting anyone's time: theirs or yours. 

New Corrective documents (Mortgage Vs Deed of Trust) and a Corrective Promissory Note will be executed to CORRECT and REMEDY the flawed documents used. 

We have already sent the lease void document but they are requesting to proceed as they promise there won't be any issues.

It is important to ensure all documentation is in order and the Florida legal process is followed.

I am not well-versed in the housing authority regulations specific to your area.