I just don't understand how a cash out refinance works and what the benefits would be for it as opposed to simply purchasing the home and renting it out without doing the reno and refinance part of it.

This continued to increase until the water company reached out to the tenant to let them know that they were cutting off based on large difference in bill.

– Is it simply an apartment with a studio, or is it a designation that requires a formal process, such as registering as an artist?

Hey Austin, Before trying to wholesale, you have to fully understand what makes a property a good deal for an investor (flipper or holder) to be able to reverse-engineer the process and come up with your MAO.Network with flippers in your area and simply ask what they’re looking for in a flip.

We bought less in 2022 than ever before simply because the numbers did not work.

You should be able to get some of the fees cut, etc.

It should cut down on costs and complaints.If the tenant demands upgrades you can't do, I'd give him whatever notice is applicable in the jurisdiction to tell him to go pound sand and find another place to live.

If they require an appraisal, they will likely cut the loan amount, too (standard LTARV is 70%). 

DSCR has slowed down ever since lenders cut staff from Covid and most didn't rehire.

If you aren't comfortable providing the information, then simply tell the tenant you can't provide a reference....that also speaks volumes.