I own and co-host MTR rentals in north Dallas, Texas.I would also add time before an MTR move-in for any fixes.

I'm curious why your bank rate recently increased?

I paid $600k and got a local bank to loan 75% for 5-years at 3.85%. 

If you are looking to avoid cap gains on one, ok, but paying you a little more to become the bank is not whipped cream on a sundae to me, it's like one old walnut.

I think it should appraise for at least 600k and think 650k is reasonable.It’s fully renovated and fully leased for $5,200/month.I’ve reached out to banks to see if I could use cross collateral to be my equity contribution but at least so far they’ve also wanted 10% cash.I’d like to avoid coming out of pocket with cash.I was wondering if you had creative ideas on how I might be able to get this financed 💗

For your first commercial deal, your best home is probably going to be with a local community bank or credit union. 

If not again you would be better off buying your own home and having enough yard/space for all of them but 13 is still way to many dogs unless you live on a farm or own acres of land.I have worked in the banking business and have seen people lose their homes that they rent due to landlords kicking them out with very little warning due to breach of contract or a No pet rule. 

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Those groups typically research and know what to expect, which make them “easy” to host. 

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