The owner had been living in these conditions for a long time due to mental health issues.It was heartbreaking to see.We agreed on a price and closed very quickly to provide relief.

For example a DSCR (debt service coverage ratio) type loan looks at how a rental performs to determine how it qualifies for a mortgage.

Btw, prior, the city and state would NOT foreclose for property tax nor accept the building as a gift; the government just determined that these property owners must become economic “slaves” to the government.  

So if they determine the lien is $1M, then they could choose to reimburse you the purchase price and you have been made whole. 

This will give you what you need to determine loan payoff.  

You definitely need more than a 1 month history to determine if the airbnb is successful.

Use our Zoning Look-up Tool to determine the zoning district for your property and if a hotel, motel, or bed and breakfast use is allowed.

Check the Secretary of state for company good standing, and determine years in business ETC, who are the actual owners.2.

There are some additional things that could help determine which loan product is best for your situation.203k Best When:- Credit scores 680-720 or less- Renovation will improve the value of the home more than 75%- Renovations will be on or in the home - no new yard projects, only fixing existing- Higher Debt To Income (can get approval with up to 56.9% dti)HomeStyle Best When:- Purchase + Renovation costs will come in higher than FHA Limits- Home improvements will only improve vale 75% or less - 720+ credit or 20% down (of purchase price + reno cost) to avoid PMI- Exterior Projects (fence, hardscaping, pool, outdoor kitchen)- Lower Debt To Income (sometimes as high as 50%, many times between 45-50%)- Renovations that are greater than $35,000 (soon this will move up to $75,000)Happy to answer any other questions that you may have!

Initially signed up for property management for few months before I'm mentally prepared to start self-managing.