Always evaluate your options based on ROI and the impact on tenants to find the best path forward.Good luck!

Thus, they are appraised as such - valued based off the sales comp approach - i.e how much have other similar single family homes sold for?

This can lead to consistent limit increases every quarter, which opens up even more opportunities for growth.Having good rapport or a strong relationship with a credible accountant to help simplify and oversee this process is an amazing idea and highly recommended.

It's based on the purchase price and will not include any improvements, reno, or increase in value since the purchase.

Way to go @Glenn McCrorey , I went in the same position as you 12 years ago, when I started my full time real estate investment. 400 properties later, i am still going strong.

Here’s how I’d approach it based on my experience and Cardone’s principles: 1.

It is also good to aks as a back up if they offer an I/O Interest Only option and do they calculate the DSCR based on the PITI or ITI for I/O to also help qualify.

Hi BP Community,I’m a multifamily investor based in NJ, transitioning from smaller multifamily units to 6+ unit properties.

I moved from the SF Bay Area to live and invest in Reno, NV because of it being much more landlord friendly, low property taxes, close to Northern CA and Lake Tahoe, strong appreciation, and I understood the market after speaking to a bunch of people and feeling confident about the future here.  

Coincidentally, I had this exact same question when renewing our local STR license as they've moved to a system (unfortunately) where the cost of the license is based on the number of bedrooms.