Points and loan details are TBD still as we're just getting the tentative process down on paper as we wade into the details. 

The reason I say this is because you probably have a loan on the properties, or one will have to get a loan to buy out the other.

It was great to get our heads in the game, and got us to move quicker to get a house (since we were basically forced to get a pre-approved loan in order to tour houses...).

I had a “lender” tell me he’d give me a personal loan with a fixed 4% rate on a 30 year term at whatever amount I wanted because he would like to “build a relationship” with me. 

My plan is to put 5% down on a 30-year conventional loan and have the rental income help cover part of the mortgage.

Investment Info:Single-family residence hard money loan investment.

Investment Info:Single-family residence hard money loan investment.

You can probably just go ahead and live in that 5th unit, but I believe whenever you go to refinance it with a bank or what not, the 5th unit will make it require a commercial loan and not residential regardless of what the county records show the property to be. 

From a leaky roof to a backyard jungle, it was a crash course in problem-solving and patience.I bought it for $145,000, powered through the chaos with a hard money loan, and sold it for $180,000.

So, I also require that :Monthly Rent + Monthly Debt Payments <= Gross MONTHLY Rent * 45%This is similar to how mortgage qualifications work by considering the applicants' debt loan along with their housing cost in relation to their income.