Also, the amount of damage was so expensive to repair that he simply could not afford to fix the more damaged units.

. --- We haven't seen a S8 inspection report in over a decade that required a tenant to fix damages they obviously caused.

I'm excited for the opportunity to be apart of the community with BP, I reside in the state of Virginia and started my investment journey many years ago at 22 doing fix and flips, I stopped when the market crashed in 2007/2008 and didn't like the way the market looked and I left the investing world, I became a mortgage loan officer, and then processor and later underwriter and learned the backend of the conventional lending world.

Here’s how I’d approach it:For the 9.5% Loan: Refinancing into a DSCR loan makes sense to lock in a lower fixed rate, especially if your goal is stability and better cash flow.For the 7.25% Loan: If the local bank's investment HELOC offers a competitive rate, consider it for flexibility.

Looking for guidance on options. new builds aren't hard to finance and I would argue they are preferred to existing fix and flip loans, especially if you have experience. banks look at your experience, your builder's experience, loan structure, permits, etc you need to get an experienced builder familiar with advanced underwriting and negotiations with local, regional, and national lenders. in columbus we do ground up construction for clients at a 20% discount so they can BRRRR out of the new build with equity and we have pages and pages of data on what we build and why and it's all supported by market statistics. 

Hey @Marc ShinLook, I’ve been at this for a couple of decades now, and I still remember this small bungalow I fixed up in Hillcrest back when I first got my start.. it was a 1920s place too, a bit rough around the edges.

But if it was not for those bene's these would have been poor investments long term with very little exit profit by the time one would have to pay recapture and do fix up work.

There’s different ways to structure the prepay.5 year option (5,4,3,2,1) (5% fixed) (6 mo interest)3 year option (3,2,1) (5,4,3) (5% fixed) (6 mo interest)1 year option (1%) (5%) (6 mo interest)These are the ones I work with.

Live there for a year while you fix it up.

My friend knows just about every contractor within 2 hours of us and can likely fix small problems that come up.