@Saul Vargas, to piggyback off others, sourcing a traditional SFH rental that meets your underwriting criteria will be complex due to interest rates and market conditions.

Hey Aaron, have you considered a commercial mortgage from a local bank like First National or Bangor Savings Bank? 

Joel the LLC is not an impediment to bank or DSCR refinancing.

Traditional 30 year fixed mortgage How did you add value to the deal?

It takes a lot of phone calls and asking around, but you can normally find a local or regional bank that is willing to work with investors on these types of properties.Mike

Buy of course banks won’t use “gift funds” and I don’t want to wait 60 days to let season.

if you have an LLC and both properties are under it, you just need 1 operating account.If both are under your personal, 1 bank account specifically for the rental is enough for operating.Security Deposits should always be a separate account altogether.

And could even get a second home loan if doing traditional financing.

Quote from @Samuel Coronado: Quote from @Jordan Moorhead: You can use local banks and there are national lenders.

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?