You typically will see small banks/credit unions probably wouldn't be able to out-of-state, but otherwise any mid-size company or larger should be able to.

I see it as no different from borrowing from a bank.

I am trying to calculate my returns over a 10-year period using the rent-by-room strategy, which results in significantly more cash flow than traditional rentals.

Duluth has traditionally had a strong college rental market and thankfully any small decline in enrollment rates haven't been as severe as other traditional college cities, eg.

Refinancing isn’t an option yet because of the way we purchased it (unless someone has a bank that will look at the deal differently) our original plan was to pay off our balloon in early 2027 when it is due which the bank will treat as a purchase and then we would wait until we are able to refinance so probably 2028 and then we could pull out a good chunk of equity at that time.

I own a mortgage company now that does both residential and commercial finance, but I spent years as a commercial banker with both big banks (First Union/Wachovia) and 2 community banks.

We own 10 homes, but all the rest are traditional leases and are also close to our primary home in the Lake Norman area (all w/in 30m).

Banks so far have required me to come in person to open account. 

Most traditional property managers don’t handle this setup due to challenges like managing tenant disputes, coordinating overlapping move-ins/outs, and the risk of Fair Housing violations when selecting tenants.

We have had our first bank valuation done on a property in Peniche.