Typically a furnished rental will appeal to someone coming to live in an area for a short to mid term period of time.

With the hold periods on BRRRRs nowadays, your margins will get crushed with hard money interest payments/points/fees. 

Hi Dave in Northern, NJ-I am sorry to hear you have a single family rental facing foreclosure.You have it in an LLC and wonder what your options may be to delay foreclosure.Lenders do not want to take properties back and have a nonperforming loan.The best time to work with your lender is as soon as possible but certainly before the sheriff's sale.After the sheriff's sale, there is a redemption period where you can still sell it and the length of time varies from state to state and may depend on if it is vacant (avoid that for a variety of reasons), if tenants have a lease and have rights, or if someone is occupying the property.Working with the lender may not be easy but do not give up.Also, reach out to investors, who buy properties in foreclosure or pre-foreclosure, and see if they would be interested in curing the default and buying the property.To Your Success!

Quote from @John McCarthy: Even if the 60-day period has expired, you can still tell your tenants you want them out by the termination date.

The way I interpret the following policy clause is that so long as the property is defined as other than "VACANT" which is the case when the property is being "constructed, altered or repaired", the 30-day time period and vacant status does not apply in this instance: We do not insure any loss at your premises if your dwelling has been vacant for more than 30 consecutive days immediately before the loss and the declaration page indicates an occupancy other than “VACANT“.

So we would have to get a loan, pay off the seller and transfer title and then wait the seasoning period before doing a refi unless there is a bank out there that will treat it as a refi off the bat

They equate the period leading up to the time its ready to rent as the risky part of the real estate process and pay a premium to bypass that part but this leaves them with unreasonable expectations because the real estate they purchase is inherently risky.

Here’s what could be going on:✔ Legitimate Concern – Some tenants worry that HR inquiries might raise red flags with their employer, especially if they’re still in a probationary period.⚠ Fabricated Offer Letter or Pay Stubs – Unfortunately, fake employment documents are common, and verification through HR is one of the best ways to confirm legitimacy.⚠ Unstable Employment – They may have lost the job or never actually started, making verification impossible.⚠ Other Issues – They could be hiding something (evictions, unpaid rent history, or other financial instability).What You Can Do:✔ Ask for the official employment verification letter – Many HR departments provide standard verification letters upon request.✔ Verify pay stubs – Cross-check them with bank statements to confirm deposits match.✔ Call the employer directly – If HR is off-limits, ask for a manager’s contact instead.✔ Stick to a Consistent Screening Process – Fair Housing laws require uniform screening criteria, so making an exception for one applicant could lead to discrimination claims.

Pay Stub Record-Keeping and AccessSenate Bill 3208 obligates employers to furnish employees with copies of their pay stubs within 21 calendar days of a request, up to twice in any 12-month period.

If the reduction helps the property rent in less than a month, then you have only lost $1200 over a 12 month period of time.