This would be a waste of everyone's time and money.

Hopefully the deposit covers Jan rent, make sure you give them an itemized list of the money owed to you for any damages or unpaid rent. 

But that honestly looks like it is all set up to try and be a banking solution (ie, get as many users keeping money in BaseLane's bank accounts so they can make that sweet sweet float on the interest.

Weirdly, you may actually be able to get better terms and/or more LTV on the refinance if there is debt on the property as lenders have rules for max cash in hand (max proceeds you get at closing) for cash-out refinances.  

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

I can't seem to find out the actual %.

I am curious if you had to invest any of your own money in the form of equity or to pay for some of the remodeling.

In this post, I will explain the criteria and the information sources.Income requirements for financial independence:Rents increase faster than inflation: Inflation erodes the value of money over time, causing prices for goods and services to rise.

Hence the lot on which the house resided was taxed at a 45% discount based on actual value, while the tennis lot was taxed at about 4 times what it should have been by value. 

If you sweat for a living, there is good money to be made.My Skeptical Take:I’ll do a 2025 prediction post in the coming weeks, but for now, I’ll just say that all signs are pointing in the ☝️ direction.