Cleveland currently has one of the lowest price/rent ratios in the Nation, with the average home price being $107k and the average rent being $1,416/Mo.

One said the 2nd mortgage has to be assumable and the other said it did not.VA issued Circular #26­24­17 back in August to try and clear up the issue:Assumability: If the secondary borrowing is not assumable, the holder of the VA guaranteed loan should counsel the assumer that this may restrict their ability to sell the property to another creditworthy assumer through an assumption in the future.The lender currently servicing the loan still can decide whether or not they'll allow the 2nd.You could do seller financing for the gap and then refinance just that amount with a Home Equity Loan or Line of Credit at some point down the road. 

It generally refers to removing the tenant from the home while a lease is in place.

Do you own your own home and have equity in it that you can pull out with a HELOC? 

The previous owners turned in into a single family home.

that's a pretty intensive list more than most home inspector bring 

Purchase price: $350,000 Cash invested: $10,000 House hacking my first home by converting the master bed into an independent studio that we rent on Airbnb What made you interested in investing in this type of deal?

However, there is a specific deal Which I find hard to understand the ARV for.It is a Single Family Home, 2 Bedroom 1 Bathroom, 850 SQFT.These two comps have a price gap I find hard to understand, even when considering the difference in renovation level.If anyone knows this market well enough to understand the cause of this difference, and if it might be due to an issue with the location, or if there is anything I am missing.Comp 1 - 1011 Elm Street, Burlington, NC, 27217 (120K)Comp 2 - 1109 Walnut Street, Burlington, NC, 27217 (120K)Comp 3 - 1505 N Park Ave, Burlington, NC, 27217 (180K)Thank you!

No, you cannot purchase a home with an FHA loan via an LLC.

House hacking by purchasing a duplex, triplex, or single-family home with extra rooms can help you reduce or eliminate housing costs while building equity.