This is good for someone with extra cash and still has plenty of cash to do deals.

HELOCs are the same way - max is 80% ltv - they are also usually for a primary residence.

They have to eat it or inhale airborne particles (usually only occurs when sanding the paint and dust becomes airborne).Lead paint is not as common as people think and the risk is pretty low.

I would analyze it to include the replacement rent once you guys move out because your true return of that property is providing you the utility of that rent (so if you lose $200/mo but would be paying $1,000/mo to rent elsewhere, it’s in fact a solid investment and you can ‘save that extra net +$800 towards increased principal pay down or save for another down payment.

We did do a lot of the extra's to attract better tenets and create long term resell value.

Cutting into pre-tensioned slabs is doable, but usually requires an x-ray or ultrasound inspection to find the cables to ensure they aren’t damaged.

As to the income, many people on here can attest that it's actually not hard to live on $50k when you have no mortgage, no car payments, no other debt, you have health coverage, low taxes, etc, and fortunately that number goes to $60k next year without considering any other cash flow (purchase of rentals, may pick up part time work myself for extra savings, etc.).

Hey Brian, different lenders can be flexible but it all comes down to you debt to income ratio and how much rental $ they'll consider towards income (usually 70-75%).

Seems to me the only reason you should use the commercial lender at those rates are if the house will not qualify for a conventional loan (foundation, roof etc) or you have no extra money for the rehab.

I've got a couple that I usually refer to my clients.