The wrong tenant can lead to non-payment, evictions, and property damage.

Most lenders I work with would lend you 70%-75% of the value of the property, but only so much that your NOI/profit is 20%-25% of the monthly loan payment.

Hello, looking to potentially use a hard money lender in NJ. Can anyone recommend some stand up lenders I can speak to? Also if any NJ agents that are familiar with using these and transitioning out of them can reach ...

To me, having one mortgage payment for 2 - 4 houses (basically) always seemed interesting and like something that would give me more bang for my buck. 

Otherwise, move debt down to a 7-10 year time frame + lower monthly payments.

Also we felt we were going to make more self managing than with the payments they were offering.

Also, it often helps to connect with a local agent/do extensive due diligence on renovated/new construction properties to see what the property may sell for or appraise for (if doing BRRRR method) as that can impact the price you should pay.

Payments $492 (interest, tax, insurance) currently owe $51K.

The payment on the refi would be about 40% of renting a place while looking for the next property.Thanks for listening. 

If you aren't paying cash and are doing owner occupancy you may be able to use FHA instead of Conventional with a higher down payment.