This is common in California  Thanks for the reply.

Glad to have you as a part of this awesome community, Chandler! 

This post was created in error.

Share your wisdom with the less-experienced users.Always remember this is a forum for learning, first and foremost.

However, they provide a time period to fix this - ie usually 30 days. 

Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.

Hello Kyle,When screening applications for the properties that I manage, I always look for:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!

My two cents but the ship has sailed for short term rentals in this market.

Additionally, I would be grateful if I could find a mentor from the forum to guide me on this journey.Thanks in advance! 

There's great advice in this thread already.