@Sean OsborneRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

I was applying for a DSCR on my rental property (cash out refinance) and everything seemed ok, my FICO 680, DSCR 1.08, Appraisal $179K, LTV 65%.Unfortunately, the lender cannot close due to derogatory on record on my primary residence.

I understand there's a one-year waiting period before converting a primary residence into a rental property, but does this same one-year rule apply when converting a rental property into a primary residence.I have another question.

It was not real clear as to duration the email count applied to (month, annual, other).  

Great post, this also applies to PM"s and Contractors.

Does the exemption apply to multi-unit properties since I will be living in one of the units?

There may be some criteria that apply to your situation as well. 

Would love to hear your thoughts on how these strategies might apply to properties in those areas!

@Elias AzoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Want to pull 60000 and use 40000,including paying off lenders, for reno and apply remainder towards next property.