They will also do a credit refresh right before closing, so you need to have a zero balance at that time as well, otherwise a payment can be calculated into the DTI.

They might keep the base change relatively small as nobody wants to start getting a much smaller paycheck, but they will reduce the RSU refresh significantly in the upcoming cycle.  

I intend to hold for a few years and then at some point after a tenant leaves do a simple cosmetic refresh and market to an FHA owner-occupant.

The operating assumptions would be 30yr x6%, 10% maintenance- but the houses were just refreshed.

Some mom and pop's can make it but it is tougher as they typically do not have the money the large companies do to refresh the locations and brand to keep standing out waiting for the next upturn.In regards to multifamily I believe people have their blinders on to that asset class. 4 to 5 years ago you could get a B class complex at an 8 cap.

If not it will at least refresh your question and get it in front of new eyes again.

I agree that it looks like you need to refresh your tenants asap.

My realtor fed me information on the going rent rates for properties comparable to my target(s) so I'd have realistic expectations for what I could make in rent on each property I analyzed.After considering many properties and making a couple lowball offers on a couple houses that were in worse shape than I would have preferred, I found a real beauty (3/1/1) listed for $110k within 20 miles of me that had recently been refreshed but not completely remodeled.

Overall, the house is just outdated and needs refreshing. 

We will have light refreshments served and the meeting is being hosted through the Boston Wealth Builders.