In ID I dont believe there is any high balance FHA limits that I know of (Coeur D'Alene, ID).Then again I dont think you need high balance limits anyway as the regular limits of FHA 4 unit property are well in excess of 1.4M and Im pretty sure the fourplexes in CDA arent that high unless you've found a unique Specimen of a fourplex house hack strategy.

A good HI will go over your house with a fine-toothed comb.If you can find an Ex (or Retired) HI that is also Certified, that would be even better, since they will understand the structure/electrical/plumbing systems in more detail than a regular HI...

If you are claiming Real Estate Professioanl Status(REPS), it is important to keep a log of your activities. 

Hello Michelle, In order to qualify for a Heloc you will need to qualify just like you would when applying for a regular conventional loan.

I am asking because that is a science and often inhabited by regulars who know how to bid you up on the duds if you haven't done it.One tip I would give you before you go into Indiana would be to really take a hard look at your 7 units and 10 doors and see if there are any underperformers in the bunch.

At a bare bones minimum, the letter confirms the start/end dates of the lease, monthly rent, paid-through date, absence of any prepaid rent other than the current month, and security deposit amount.Better, it will include statements there are no unresolved claims or disputes or repair issues with the current landlord, and no verbal or written side agreements.Better yet, it will include a copy of the tenant's lease, and a confirmation the lease is a true and correct copy with no amendments.

There are DSCR products for those scenarios, but they generally price worse than regular DSCRs.

what about quit claiming the two owners onto title as tenants in common and managing the ownership through a TIC agreement?

Not only your depreciation is limited, you cannot claim any loss.For 2025, you will have two separate periods.

Regular check-ins with your GC will help keep everything on track.