All Forum Posts by: Ben Swin

Thank you very much!

Ashish, thank you for your reply. For minor repairs, I mean really minor. Replacing some screens, landscaping.... wouldn’t this offset the rent and show a loss on the property given the repairs offset the income?

No do not need owner occupant for loan. Thank you for reply. This will rent very easy in the DC area.

I am currently locked in a lease but have a unique opportunity. I could potentially purchase a house way under market value. This is a great thing because of the future potential of profit. I am wondering would it be better to rent the house for the first year and make minor repairs and fixes, writing off the expenses or to move in the house make the repairs needed? Eventually I know I need to live in the house two years to be exempt on the capital gains. However, with all other factors constant, what would be the best financial option to maximize profit.