Christian

Here are some quick numbers for context.Purchase totalAfter RenosYearly RentsCap Rate (pre costs)Cap Rate (- $300 IRS, PM, INS)$62,240.00 $64,890.00 $11,760.00 18.12%12.58%$71,280.00 $71,530.00 $9,516.00 13.30%8.27%$37,116.00 $39,116.00 $10,500.00 26.84%17.64%$58,857.00 $59,857.00 $12,000.00 20.05%14.03%$49,501.00 $56,046.00 $10,740.00 19.16%12.74%All in, we're interested in any creative financing - traditional refi, portfolio loans, DSCR, HELOC.

I am no longer eligible for traditional bank financing, so I am working on securing hard money for my next property.

Hey Christian, the Columbus market is great place to invest for both appreciation and cashflow.

Keep in mind getting it to current HUD standards will still not make it qualify for traditional lending if you end goal is to sell it. 

It can actually be riskier (investment wise) as you are not getting a traditional check every month, but added responsibility that you will hold onto the lump sum throughout the 3 month tenancy to accommodate for repairs, mortgage payments etc... 

So a Joint Venture offer needs to be double an offer for a traditional sale to make up for the tax differential.  

Quote from @Christian Cortez: Don't wait to put it in an LLC.

I haven't used hard money, but I hear there is no holding duration requirement; some traditional loans require you to hold it for 6 months or 1 year. 

I will also get another roommate who will also sign an agreement (I’m house hacking), but I think I need them to live with me for a year for it to count.Please let me know what a lender would include for gross income for traditional for non-traditional.