This gets them thinking about your eventual move and the stress they might face in finding a new tenant.After some time has passed, you could share that you’ve started looking at other homes, but the options in your price range don’t compare to the property you’re living in.

I think I could get in the 5k-10k range for a down payment.

The interest rate and loan term remain unchanged.Fees: Most lenders charge a fee for recasting, typically ranging from $100 to $500.

Please advise.ThanksMelAllstate: They offer a range of property insurance options.Farmers Insurance: Known for providing various insurance policies, including for rental properties.Liberty Mutual: Has a presence in California and may be able to meet your needs.Nationwide: Offers property insurance and may have suitable policies.Good luck in finding the right coverage! 

If comps for a 3 unit property are in the 950k range, then that is what it will come in at.The revenue from the STR will have no bearing on the value of the property itself.People argue about it from time to time, but I spoke with 10 different lenders, banks, credit unions, private lenders, etc etc and they all said the same thing.

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

I live in Hawaii so finding a Multifamily is going to be a little out of my price range haha but thanks again!

In your experience, do you have a range that is charged?

I'm running your numbers and getting in the low 20% range.

The numbers that have worked so far are 150/sqft However that is in the 550-650k exit range.