One other thing to note is that if the building does not already have a sprinkler system, increasing to 5 units would most certainly warrant the addition of a sprinkler system (AT LEAST in the new unit, possibly in the entire building depending on the Building Code for your state).

Sometimes I add that virtually all older houses have lead.While I may gloss over it, they have the brochure to look over in as much detail as they believe is warranted and they have our business phone number (a google phone number) for any questions.

This is a simple fix and although your income will increase after an amendment (Big red flag for Underwriters) in this case it's completely warranted.

This is a Non warrantable condo, and therefore you can't refinance with a Fannie or Freddie loan.

I did the entire rehab on credit cards 😊Refi-Loan: 30yr, fixed at 7.85%, commercial note, at 65% ARV (this is a non-warrantable condo, hence the high rate)Rented in 6 days at $1280, tenant pays all utilities including water. $400 move-in fee.

We ultimately chose to buy a MIL as a first so that we would have the flexibility to turn it back into a SFH if the market, or life warranted that. 

Hello BP, I have an investor that is looking to do a cash out refi on a current investment property and has been told by many banks and lenders that he cannot due to the property being "non-warrantable" due to more than 60% of the units are owned by investors?

Any advice is warranted! 

In a quit claim deed the seller is not warranting that he has title, he is merely transferring whatever ownership interest he may have in the subject property.Taking ownership of real property subject to existing financing means taking title to a property encumbered by a mortgage or deed of trust and leaving that lien in place, I.e., not paying off the lien at time of title transfer, AND not assuming said lien.

The PM I hired in Richmond area warrants a whole new post.