She didnt, and two weeks after going under contract, we got a credit-monitoring notification that this mortgage had gone delinquent.

Full credit/background check:  Look for missed payments, and any theft is always a no go.2.)

You payment is $2,600 plus tax and insurance.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

Credit cards have the same limitation on the amount you can borrow and will likely end up costing more than private lenders.

Whichever loan that you decide to use, the interest will be tax deductible due to interest tracing rules.

Then it shifted to more flips and rentals, with a lot of discussions on how to capitalize since the credit markets were frozen.

I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

If Don fails to pay, the bank will certainly go after me, it will at least ruin my credit and will likely take me to court.