While some may find a modicum of success I find it waaay too competitive (I have seen 6 bedroom homes for under $200 a night). 

I have been interview these folks and almost down to the right folks.What I am seeking from the community is experience from those that have done this and have been successful but also those that have pitfalls to learn from those to either not make the same mistake, or do what works. 

He did eventually have success. 

Let’s make this the start of something impactful and build a community that supports each other’s success!

For example, bank accounts we control and specific investor capital accounts are all tracked in this same software.For our investor reports, each month we download spreadsheets, write a narrative for the month's performance and then export it all to a PDF.

(I have successfully won damages in every eviction I've handled so far, btw).Just letting everyone on here know what I suspect to be going on, so you can be on the lookout for this activity from some of your current and future tenants.

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.

In the end, I got to successfully set up an account and fund my investment, which is much further than I would have gotten with any of the other banks/credit unions I tried. 

Experience - We've been building for 10+ years in this market and have successfully built and sold 200+ SFHs4. 

That's where we've have the most success.