Quote from @Jonathan Greene: Quote from @Mitchell Gunlock: Quote from @Jonathan Greene: It probably sounds easier than it will be in practice.

I'd been hoping to not "go overboard" since it's just an owner-occupied house hack in a SFH so it sounds like I *could* keep things simple.This isn't so much about the software but I saw you're active in LA; did you find that the templatized leases via KeyCheck/Rocket Lawyer suited your MTRs? 

@Shane PearlmanIt sounds like a cluster.

They sound great so trying to figure out what the real downside is and why investors don't always go this route? 

sounds like you folks need to get a Reciever in there pronto before all the funds if there are any go poof.

Those gurus need to make themselves sound smart to get people to buy their courses.

@Larry Nielsen Sounds like a very long term tenant if their rent is that low and they've been reaping the benefits of it being low for at least the past 3 years.

Honestly, as sexy as it sounds to be active and go after them on your own, as a rookie, even with some book education, the real world can knock you on your azz so I would suggest going with a very experienced and proven sponsor.

It sounds like there is some scale in the deal for a fix and flip, but you would surely be way out ahead of your skis to do that based on what you said.

Second position DSCR does exist but rates are even worse than HELOANs, I'd expect 11-13% right now.Getting a simple cash out refinance sounds like the simplest option, but if you can just get a large first position HELOC only that would be a pretty convenience deal.