I am sure there are plenty of agents out there that work really hard and are great people.

With its inviting curb appeal and well-maintained landscaping, 17 Penny Lane stands as a testament to both style and practicality.

Note: I've had plenty of tenants state their credit score is xx and it turns out to be considerably lower.

Whatever you're borrowing, you'll need at least 1/2 of that amount out of your own capital to get the project done (assuming that you have things timed out perfectly).Maybe it helps people that need to start another project while the last one is on the market, but there are plenty of hard money lender that will actually fund your project.

They may even want an appraisal to verify that they have plenty of coverage on their loan. 

At 23 you have plenty of time to pay them off, I would not mess with it too much. 4) That depends on the $$ you have.

It's not worth your sanity to try it yourself unless you have plenty of time and patience.  

Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

So they now own a house that is rented and the rent covers the mortgage payment by a ration of 1.25:1 or so and they have 5k extra in their pockets and their Heloc money, which they only needed 75k - 80k of - so 100k HELOC should be plenty - was enough. to get through the lifecycle.Do not let them drain their equity from primary and just sink it into a project. 

The PPP is only 3 years, so you'd have plenty of time to choose between years 4 and 10 if you wanted to refi or just pay if off before your first adjustment ever occurs.