OK, with that in mind, are prepaid property taxes a "closing cost"?

I am in the similar situation as i'm trying to cash out refi however per the Fannie Mae Rules i don't see a way to recoup the money spent on the  remodel. i can only recoup the initial investment which means i leave my remodel costs in the property.see below from Fannie Mae - The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV, CLTV, and HCLTV ratios for the cash-out transaction based on the current appraised value).

This does not include points or prepaid tax/insurance/interest till the day of closing.If you can in theory get a lower rate and a LC (lender credit) greater than the 3200 figure above you can possibly do whats call a no cost loan (its not really no cost it just gives a LC at the expense of a higher rate but if that rate is lower than your current rate its a no-brainer).

Then you can either require a pre-paid $400 “deposit” and enter $0 for monthly rent, or you could split the payment (e.g. $300 pre-paid “deposit” and $100 monthly rent).

Your negotiation elements are 1) the fact that the notice was short and you need time to rerent, 2) they got a better rate for 6 months than 4 months 3) the fact they prepaid meant somehow that there was no possibility for early termination.

Purchase price: $179,900*Estimated prepaid costs :$4,184.56Estiamted closing costs: $9,197.54Total costs (Add items : $193,282.10Prorations charged to buyer: -$528.66Loan amount: $134,925Cash from/to borrower: $58,885.76Does this seem high for closing costs and all?

But after I ran some numbers (these are only estimates) I would expect your closing cost to be closer to $5,000-6,000 (origination fees, appraisal, survey (if needed), closing, doc prep, attorney fees, flood cert, title, prepaid insurance/taxes/mortgage insurance, and initial deposits to escrow) Paying 15% of the value of the home in closing costs is pretty high.

All in, including prepaids I’m at about 4k

Paying all cash and then feeling like you have awesome cash flow is an illusion....you just pre-paid your cash flow and are paying yourself back

And I WOULD have filed an ADA complaint with the Department of Justice, a complaint with the local real estate commission, and a private lawsuit as well because I was already into the rental prepaid to $4000.I'm just glad I'm there now to protect my daughter from that kind of harassment.