I would also shop with a local mortgage broker as currently United Wholesale Mortgage is running a 125 bps special on Government refinances through the end of September meaning if you did go FHA streamline then you should be getting a rate of around 5% (borrower paid)4) If you havent asked, at 700K+ loan tell your lender you want to go Borrower Paid and you expect them to only charge a 1% origination charge fee.

A few days later my banker called with some great news, thay had approved the loan and even upped the original amount to help cover some other expenses.

When you originally applied, you qualified based on both of your incomes.

I would offer interest on the original loan (thinking 5 percent). 

lately, I’ve been thinking about many different strategies regarding real estate.I originally did wholesaling for a few months but ended up stopping bc it just took up too much of my time especially with my full time job.second, I thought of having rentals but I was hesitant bc I live in NJ & the rental laws here aren’t the greatest and it’s hardly any deals that can justify for the rent to cover the mortage in this expensive market.Right now ive been thinking about possibly flipping properties in my own back yard NJ or possibly out of state where home prices are much lower in certain markets.Anyone have advice if I should possibly flip properties where I live in NJ (blue state) or possibly go into another market and flip virtually..?

Originally posted by @Kevin Brown: @Patrick L.

I have insurance either way, but he said it's still best to split them up, with each having their own LLC.My plan is to create a new LLC for each one:-123 MAIN ST, LLC-123 GREEN ST, LLC...and then use my original LLC as the "Holdings Company", which then owns those 2 LLC's, and any additional properties I acquire.As of now, I have 1 business credit card and 1 business account for *JOHN SMITH PROPERTY INVESTMENT, LLC* -- this makes things easy from a bookkeeping standpoint.

(Are the rules whatever is being assumed from the original buyer?)

Its API-based design integrates with existing loan origination systems and scales to accommodate growing portfolios. 

lol I'm originally from South Florida and buying an investment property near surf in Puerto Rico has been on my radar for a while, my father and I visited in 2018 and at the time were browsing multi family properties.