With the bay area only 3 hours away it's a quick trip to see any property pre and post purchase.

They'll introduce you to a lender for a pre-approval and help you get a feel for the market.

-Portfolio loan unwritten and held with local credit unions-No pre-payment penalty and no PMI-Non owner occupied, this is a true investment property loan, and you can do up to 5 homes at once with it!

They are really pre-paying expenses.Maintenance issues, taxes, and insurance expenses are all expected things - and frankly they are expected to increase every year to the point I actually over fund my T&I account by about 10% to compensate for those increases.So if we turn to rent, yes, someone can be late on their rent.  

.- Pre-approved to $450,000 (knowing I am eligible for more)-Saving $3000/month-60K in reserves and for BRRRR’nWhat I’m looking for: evaluation of my plan to get started, advice on particular neighborhoods to look at in my desired zone, people to network with and develop a relationship with.If you’re ready to get connected, please let me know.

For me the stress was finding a good deal in 2022 to 2023 since my other properties were acquired pre-2013.

Let's be realistic, scaling in a house hack fashion doesn't happen in today's world like the pre-Covid era. 5 MFs in 5yrs with just $25k to work with is a false reality.

The violations pre-dated the borrower’s ownership period and our expectation was the renovations would resolve them.

Draw schedule to be agreed upon prior to closing.Term: 1 YearFee to Lender: 2.5 points – ($13,125 paid at closing from loan proceeds).Interest Rate: 11.5% Interest-Only billed monthly on outstanding balance.Interest Reserve: $15,000 – approximately 6 months interest, paid at closing from loan proceeds.Once interest reserves are depleted, borrower to make interest-only payments monthly.Pre-Payment Penalty: Should loan be paid off prior to interest reserve funds being depleted, a pre-payment penalty will be charged equal to the amount remaining in interest reserves at time of payoff.Loan 2: Loan amount 490,530.60Lender Points: 3%broker points: 1%rate: 11.99%Term: 12 months (interest only)Prepayment penalty: NoneProcessing fee needs to be wired before LOI can be issued

Or, buying a Duplex and renting one side out then renting the other rooms out in the side I would live in.I have spoken with two lenders and both have given me pre-approval letters for up to 270k purchase price, with 15k down payment, conventional fixed rate loan, 30 year term.