Assumption by an EntityUnfortunately, assuming a VA loan directly through a legal entity (such as an LLC, corporation, or trust) is typically not allowed because:Primary Residence Requirement: VA loans are designed for owner-occupied properties, meaning the assuming borrower must intend to live in the property as their primary residence.Credit Review: The VA and lender require the assuming party to undergo a personal credit and income review to ensure repayment ability, which entities cannot satisfy.3.

FHA may have allowed you finance up to 96.5% of the loan to start the hack.

In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.

We even allow pets but charge $50.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

The economics do not allow for a property renovation, properly permitted and all deferred maintenance issues addressed.  

He said that he has to go back a number of years to determine any losses that were not allowed for NJ that can be added to basis...He stated that NJ does not allow net losses on rental properties ; however, those losses can get added to NJ basis so he said he has to go back and review all my losses over time.  

And to pile on, if you didn't own this property, then you would be paying $700 or more in rent each month to live somewhere else.It's nice when you can find a hack that allows you to live rent-free, but that doesn't happen often.

It's very user-friendly, low cost and allows the option to add team members to projects and tasks. 

My original idea was to grab a 2 family and lower the cost as much as possible I'm OK with just having a property that can allow me to pay less rent -- it doesn't have to be a cash flow out the gate.