It's a more affordable market and lower property taxes, so you may actually have a chance to cash flow.

Transparency, regular communication, and clear milestones have been critical to making this successful.For those of you who are considering working with private lenders or want to improve your deal structure, I hope this gives you some food for thought.

Say my original loan was $500K, my cost basis with improvements is $1M and I cash out refinance with a $1M loan (can I include the interest of the new loan into cost basis since it’s reimbursing me my cost basis)?

What I'm aiming for are turnkey rentals and trying to max out the amount of conventional, lower interest loans. again, the DTI income ratio will be IMPROVED if the property shows cash flow.

I hope you get the chance to visit someday; I’m sure you’ll love it!

You'll want to print and save the SS-4 Letter that you'll have the chance to download at the end of that process.

Agree Google nmls - funny on Facebook where 99% of private lending groups that are public are scam artists you get the "well license isn't required"I reply to this noting that while you are correct in some states - chances of a scammer with a nmls license are less than 1% while those without is 99% on sociale media 

Multiple people had some bad things to say about the area, but when I moved and realized that it was a low income area with a lot of homeowners, I was motivated to improve the property to match the effort my neighbors have put in. 

Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.

. 🌱 Growth-focused—you’re always looking for ways to improve. 😁 Positive—good vibes make for a great team!