Rental history of 8 months is not sufficient.

They gave it a vitamin k shot, and sent it on its way with scheduled follow up appointments.

As defined by the SEC as: “have sufficient knowledge and experience in financial and business matters to make them capable of evaluating the merits and risks of the prospective investment.”

@Peter ZimmerWhen you own just a few properties, dedicated accounts work fine and are sufficient.

That way you won't spend time and money doing things that may not be necessary or sufficient to address the insurers requirement.

@John HuynhHey John, assuming you’re going to live in the property, there’s the fha loan like you mentioned but it is very difficult for you to get approval on a 3-4 unit due to the self-sufficiency test.

Just be aware of the FHA self sufficiency test.

Second, you must know the ARV of the property before you purchase it, to determine that the refinance will recover most if not all of your investment.Using a HELOC to finance the down money to buy turnkey properties, will require patience and a keen evaluation of the market in order to get sufficient appreciation in a few years to allow you to pay off the HELOC and refinance the purchase loan. 

When the reserves are needed, they are transferred back to the Operating Bank Account so that the expense may be paid out of the Operating Bank Account.The Reserve Bank Account includes sub accounts set up in your accounting system for the following reserves: Property tax reserve (fund this account monthly with 1/12 of the annual cost property tax expense)Insurance reserve (fund this account monthly with 1/12 of the annual cost of insurance)Replacement reserve (fund this account monthly in an amount to set aside sufficient funds to cover the rental property's anticipated [inevitable] future capital improvement expenses). 

If this is the only duplex in 15 miles is there sufficient demand for this property type, can the units be rented, what is market rent, vacancy etc.