I've seen everything from a lender using the highest middle mortgage FICO score of the LLC members (as long as the guarantor owns at least 20% of the LLC).

There are so many ways to approach this model, from buying existing, to retrofitting homes, to building new.

We just have to hope mortgage rates decline a little bit in 2025 while the supply does not drop so that we can have more home sales in 2025 compared to 2024.

Here are the numbers:Purchase price: 300k @5.5% (might be able to negotiate new exterior paint job credit)Monthly costs: mortgage- 1703 tax-245 (2933/yr) insurance- 167Market rents are 1600$ easy for both sides as is but currently being rented at 1410 and 1325 tenets pay all utilities (separately metered)Planning on putting aside 20% of rents for Maint, vacancy, capex and will be self managing property.

I like the idea of doing this with mobile homes, because I can buy them outright, so I would own it sooner than mortgaging a house.Thanks for reading and I look forward to any replies.

I’m also a long term equity guy, so just having tenant pay my mortgage is enough of a deal in current climate.On the positive rents are very high for this area and even this time of year when normally I’d see no leads for an open unit I’m seeing 1-2 a week for unit we’re remodeling.Good luck in the search and congrats for doing it yourself.  

I'm in the same boat, I've been happily using Stessa for a couple years and recently I'm having connection problems and they're not connecting with mortgage companies that are buying out my loans.

It makes you look like you’re asking for a new build, not an existing home. 2) Anytime you mention big items like HVAC/roof.

I decided to keep the house and rent it out, currently I’m out of pocket almost $1300 to cover for mortgage. 

I negotiated through the original contract and then put the rest of the deal together with an existing group of investors.