Two years ago I refinanced the FHA loan from a 6.75% to 5%.I would like to keep the property I currently have, rent it out, and purchase another 4plex in a nicer area of town which has larger units.

Most other larger lenders do allow for a back to back closing.

I can't understand why I see some small companies doing this, but none of the larger outfits.

Here are my options:1)Renovate it with the rest of the house and leave it as a second apartment.2)Add a doorway to the main house, remove the kitchen, and remove the extra power meter.

What I was able to do was borrow against the equity in the first house , $60,000 then paid cash for the second house $10,000 renovate the second house for $30,000 put $ 20,000 into my savings account and rent that house out I then went back to the same bank and applied and recieved a Home Equity loan of $ 50,000 , with the cash from that loan I bought a third SFH about 30 miles away in Schenectady,NY for 27,000 I fixed it up for an additional $19,000 and rented it out for $ 725 now I want to keep doing this , the loan officer did mention that if I were to form a corporation and put the 3 properties into it that they may lend to the corporation has anyone had any experience with transfering ownership ?

I bought a property a few months back and the (then current) appraisal said "...Subject property's market is identified as the "fixerupper" subsegment of the larger Garner & Raleigh area.

It is larger and newer with a price per square foot of $74.00Subject property at $78,000 is $85.52 psfZillow's "Ziestmate" is automated.

i am also going to offer some insight. all my houses are in livonia and I have not been able to find a renter for my newly renovated house for 4 months.

Water at 125 per building sounds very cheap and understated.I can tell you when the landlord pays the water bill tenants take LONG showers,do not report leaks (running commodes,bathtubs dripping,washer leaks,etc.) and they let others was cars and use their washer dryer for clothes.125 by 4 is 31.25 a unit for water each month.I would demand the actual water bills for proof for the past year.If it's built in 1971 what about the lead based paint EPA renovation rules??

Did the two who are still living there pay in larger portions of the rent so you still got the same amount each month?