I think there’s some sort of option of to do a little refi on both house 1 and 2 and get the money needed to wipe out the line of credit(allowing for bigger flip opportunities, especially if I partner up with someone) and also renovating that garage space with the private investor as long as it is under 1000/month.

1) 20% down will allow you to do a conventional investment loan, but you will have to either:- Qualify with the new payment + your current payment- Lease the property out, allowing the lender to use 75% of the monthly rent to offset the mortgage (confirm with a lender).2) You could also do a DSR 20% down loan, but the interest rate will be much higher than conforming rates.3) If less than 20% down, you could:- Do a 10% 2nd home loan as long as the new property is at least 50 miles from your current home or near a qualifying vacation spot (confirm with a lender).- Do a 5% down conventional mortgage if you plan to rent out current home and live in the new one for at least 12 months.

@Matt WeddonLegally, you’re covered as long as you stick to objective, non-discriminatory reasons for rejecting someone (things like personality or ‘vibes’ don’t cut it in Fair Housing law).

They can pay however they'd like as long as the balance is paid in full by the due date.

Personally as long as the building didn’t flood I wouldn’t care.

As with an STR, so long as you set and document clear expections, it is on the guest or tenant to proceed accordingly. 

They can pay by whatever means the bank will accept - as long as it shows up in the account, I don't care!

I don't want to be surprised though as I go to buy additional properties just to have them say that I'm taking on too much debt even though my income can support it so long as I continue taking in rental income.  

We have had no trouble getting our rents increased as long as we have three comps to support it and send in our request in a timely manner, 60 days out. 

(Ideally I'd like to hold the homes a long as possible)Would love some feedback from the BP community