I am going to bet that Navy Federal will be on the look out for these sorts of things and could call the mortgage due.The worst case for your plan was to break the law regarding STRs after a year?

It was a slower burn here, and we didn't see any sort of massive jump in rental demand, just a steady rise, and it was limited to certain neighborhoods.Conversely, our local homebuilding associations and tradesmen unions were DEVASTATED.

What sort of credit would you offer?

Could some sort of guaranteed return for investors eliminate the second pillar (common enterprise) of this test?

I was getting bogged down in this detail, worrying that I needed to get it sorted before I even looked at properties.

basic rules:leverage when inflation is low and interest-rate is low.deleverage when inflation is high and interest rate is high.Either HELOC or cash-out refi is a sort of leverage, when you HELOC/cash-out refi during interest rate > inflation and then do BRRR ; your risk is pretty much is 3x compare to an investor that's over-leveraging during low-interest rate/low inflation period.

Create some sort of incentive for the contracting company (give them X of percent of the cash out refinance)?

Upon leaving we did some research on whether the town had any sort of revitalization plans in place and in fact they do!

We are sort of unsure of where to start with this process.

Any thoughts or other's experiences with this sort of situation or in this area?