Living in a home you are renovating while balancing a full time job in mortgage lending is extremely challenging.

Living in a home you are renovating while balancing a full time job in mortgage lending is extremely challenging.

Verifying last 2-years of rental history and income/employment extremely important to find the “best of the worst”.Tenant Default: 20-30% probability of eviction or early lease termination.Section 8: Class D rents meet program requirements, often challenges to pass Section 8 inspection.Vacancies: 20%+, depending on market conditions and tenant screening.Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciation.Where did we get our FICO credit score information from?

Quote from @Axel Scaggs: I recently found an off-market property and was able to negotiate the price down due to foundation concerns.

My experiences growing up in a small town and living through extreme uncertainty have shaped who I am and what I believe in: the power of community and the power of real estate.

I understand your concerns.

If you are looking to start and ultimately expand your portfolio through leveraging appreciation/equity in the future, I would not be really concerned with taxes as long as the rental rates support the price and you are ultimately cashflow positive.

Hello BP family, Do you see any concerns with these breakers, are they mismatched ?

A 100-year-old home with structural concerns could mean costly repairs, so get a thorough inspection, especially for foundation and floor issues.

Would it be smarter to open the HELOC and let it sit unused until needed, or does even having it open create a DTI concern?