Hello friends, I hope you are all healthy in these trying times.So I have a refi and I know a lot of this is subjective , but I am wondering what you would do in my shoes.Here are the factsAll in for 102,000Appraised 238,000Rent revived by HUd per month : $2400If I take full amount (75%) it’ll be 172,000 with a monthlong payment including insurance and tax approx $1100.This house is all rehabbed so I don’t foresee many maintenance expenses for some time.I don’t have many expenses so realistically in this scenery I can guess conservatively and say I’ll cash flow 800 after all expenses (500 if so)Would you take the whole 172k at 3.5 % and be cool with $800 cash flow as opposed taking much less and getting 1000+ cash flow on said property?

Have you done any subject to?

If you want to have a more extended discussion on this subject, I would be happy to have that.

@James Santana I would look for subject to mortgages, or Owner financed and owner equity partnership agreements.This is a bear market that means, Builders and Land lords have control.

But regardless, when I pressed about the loan modification she had zero information about what makes me eligible and did imply that although right now a simple 3 month forbearance was on the table "no questions asked" the loan modification would be subject to review. 

Subject line - [Inpsections] -[Permit Number]-[Type of Inspection]-[Date for the inspection]Currently, city has 8 external inspectors they are working with so when you send an email they will come out based on schedule availability and conduct the inspections. 

Hence the subject of the post.  

I would say it's extremely subjective, and fairly easy, to legitimately "experience financial hardship during the COVID-19 emergency." 

Tenants who have been approved for unemployment are automatically authorized Section 8 vouchers with online verificationAt the end of the year landlords will receive a 1099-MISC for each property for the amount of rent received which is totally subject to depreciation.At the end of the year tenants will receive a 1099-MISC for the amount of rent paid on their behalf and subject to their tax bracket.This can all be set up online, is totally verifiable, and efficient.When you no longer qualify for unemployment, you lose your section 8 and landlords only qualify for rentals that have unemployed tenants and not those with the ability to pay.Again this can all be done online and is simple for both the Landlord and Tenant to understand.It is also the correct way to do it by the Internal Revenue Code.This SBA Loan program is a complete sham and is being run by the BANKS under guise of the DEPT OF TREASURY.I would get a lawyer opinion before I would do this, because not only are you going to go bankrupt you are going to wind up dealing with the bank secrecy act and treasury regulations in addition to the IRC.WARNING LANDLORDS YOU ARE PLAYING WITH FIRE IF YOU GO THIS ROUTE. 

It would be dependent on the municipal code of the subject property.