They have a shorter life span, and I rather not have one blow out when a tenant is in there. 3) Quality - make sure you use quality contractors and quality materials. 4) Put together a pro active maintenance list for your PM.

You can of course get a portfolio/commercial loan that will ignore this rule and give you cash right away but you might be paying a higher interest rate, or a shorter term (like a 20 year mortgage or something), or it might be a variable rate...or even all three!  

I also have a lot of tenants doing shorter term job relocations (traveling nurses, department managers, etc that are on rotations for several years at a time).

The downside that you have to plan for are: slightly higher interest rate and shorter note term (which translates to higher monthly mortgage payments).So, John, be sure to tell the banker what your plan is and let them tell you what packages they have.

Portfolio loans do vary widely - from higher interest rates to shorter amortization schedules - so make sure you know all the details BEFORE putting in a contract on a home.  

I think flexibility often trumps slightly lower debt costs that are usually associated with a shorter amortization.

Full doc or no income verification, ARM or balloon, long amortization or shorter and when do you want to close.

Commercial properties have much shorter terms.Commercial properties have their benefits as well.

If your property is located around the Boise/Nampa/Caldwell area, I’d be happy to help you navigate the claims process and receive a higher than average recovery amount in a shorter amount of time. 

With regard to hard money or bridge loans (shorter term), the fees and rates are usually higher, which means it may not be worth it for something under $50K for you.