That has led them to continue to jack up rent prices and often, push out good tenants for the sake of an extra $100/month.

I did a survey last year and spoke to 8-10 lenders and they all said they wouldn't add extra value to the property based on it being a working STR.You need to check comps of other mobiles in the area of similar quality and price it accordingly.

Completed the reno and did a cash out refinance in June 2024 to 8% and added an ADU with the cash out.

I don’t have any debt besides my mortgage fortunately or unfortunately however you look at it, and I’m not opposed to using my extra funds to buy down my mortgage but I’m afraid it won’t lower my DTI quite enough.

Although my spare time to complete such projects follows seasonal work highs and lows, it would be smart for any type deal I consider to involve adding value myself to the property.With at least 100k (possibly up to 140k) of equity in our home, I have done a fair amount of research in HELOCs and refi.

We added some instant value to this one, changing fixtures, adding accent walls, and altering kitchen cabinets.

I used a combination of leveraging my business line of credit, HELOC and partnerships for my first couple deals before adding in private lenders. 

Also confirm that county maintenance liens are added to the tax debt.Fourth, you can contact your county ordinance department, usually those who handle house condemnations and mowing liens, and provide them with the property tax number, photos of the violation with a complaint from the named neighbor about the risk. 

If we need customized items, like a Leasehold DOT on an airplane hangar portfolio, then we (borrower) pay extra. 

"South Minneapolis" is such a broad term - there might be as many as 25 different neighborhoods ranging from A-D class, each with their own pros and cons.