Long Term non-paying Tenants.

I am wanting to get into fix and flips and eventually long term rentals. 

As always, read ALL the terms before you sit to close.

Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:• Purchase Price: $215,000• Down Payment: $43,000• Loan Amount: $172,000• Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):• Monthly Payment: $1,573.39• Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):• Remaining Balance: $78,556.96• Monthly Payment: $1,541.18Additional Conditions:1.

Strong rental markets with low vacancy rates are ideal for long-term holds, while areas with high ARV growth are great for flips.

Or if we are that concerned about them, we need to do Nation building, which no 1st world country that I know of has been able to do long-term.9. 

I’ve been working with several lenders for DSCR loans, but I’ve found that the fees are quite high, with minimal benefit in terms of lowering my current interest rate.

Purchase price: $785,000 Cash invested: $156,000 Short term vacation rental in Panama City Beach.

I have a house that’s a long term rental upstairs and a medium term downstairs.

I'd buy and hold the property long term and use the equity you gain to buy more property.