Getting into multifamily will be much easier after your first deal and your local team is established! 

In this type of deed, the seller does not guarantee that their title is free and clear of any defects before the seller acquired the title or ownership of the property.A special warranty deed generally contains this similar clause:“Grantor does hereby bind Grantor and Grantor’s heirs and legal representatives to WARRANT AND FOREVER DEFEND all and singular the Property, subject to the matters set forth in this Special Warranty Deed, unto Grantee and Grantee’s heirs, legal representatives, and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof, by, through or under Grantor, but not otherwise.”Quit Claim DeedQuite contrary to general warranty deed and special warranty deed, a quit claim deed does not establish title of the seller in the property.

Not really, as long as you are up front with a lender, most would just require you to show them the establishment of the LLC/accounts and then could proceed with that.

This is most likely to establish your housing expense history/ verification of mortgage (renting in this case).

Yes, the $40k down payment is included but $15,500 seemed like a lot to me for closing costs. 

Looks like you'll be doing a lot to that unit.

Hi Michael,I've found that people will find you with their money if you establish a proven track record.  

Here's the scenario -- we lived in our first home (3/1) for 15 years and during the pandemic cash-out refinanced at 2.7% 30-year fixed (have 28 years left), knowing we'd need to spend a lot to either rennovate or use as down payment if we moved.

For example, if you are told, "we can refinance you for up to 75% LTV" to realistically expect approximately 5% less until you have experience and establish a relationship with your lenders. 2.)

Account Closed a lot to unpack here.