You might pay less in taxes but it'll be harder to qualify for the next loan.

I have to say if you cannot tap $3000 (or even $500) for this without feeling it, you might not be able to tap what you need to qualify for the loan- you should look into this.

I will look into that, for some reason I was thinking that due to the mixed nature of it that it wouldn't qualify for a manufactured home DSCR.

– Is it simply an apartment with a studio, or is it a designation that requires a formal process, such as registering as an artist?

I haven't heard much from those interested in syndicating, although there are hard money lenders among the members, as well as members who would qualify as accredited investors.

And when they do send the so called "qualified leads", it turns out someone with high equity and house in OK condition asking for 125% of RETAIL value.

My lender said I can't qualify for a loan unless a unit is vacant.   

The cash flow from this property ($1,300 profit after expenses) can also help support your ability to qualify for a refinance.HELOC (Home Equity Line of Credit): Another option to access equity is through a HELOC.

So my question is, are you generating more qualified leads with this free time you'll get back, or are you trying to replace this with a VA?

Hey Justin, You sound like a prime candidate to take advantage of section 121121 qualifiers Must live in the home in the past 2 of the 5 years 24 months non consecutive required Must have owned the home for at least 2 years Only one spouse needs to meet the ownership testBoth spouses need to meet the use test Neither spouse has excluded a gain / used section 121 in the past two years Must file jointly for the 500k exclusion