You should also ask the lender if they are associated with any closing costs assistance programs.

@Richie Linnon if the unit needs renovation, which is likely with someone there that long, perhaps plan to give tenant 3-6 months’ notice as it will possibly be difficult and stressful for them to find something in their budget and they may need time to apply for and be accepted into assistance programs.

Not sure about that but make sense Yes that is part of it, but as technically the program ends next march and then you have a year to pay it back.

Probably the same for most BP members.Both of our bankers $25mm and $1.5mm Fed loan Cap rate said their customers are out of Covid Government money deposits, thus they, the banks, are not pushing loans now. 

She's been good overall but I recently received a notice in the mail that she's being dropped by the Section 8 program.

There is no reason to buy your own first for experience purposes - and the fact you already live there makes it 'owner occupied' if you end up going with traditional bank financing - which will give you better rates, and access to more programs. 

Most professional tax software programs have an option to specify that rental income is non-passive, and that will cause the Schedule E tax loss for that activity to bypass form 8582. 

Fannie Mae’s 5% MF loans seem perfect for this even though I’d have to prepare a higher down.NJ State down payment assistance and a NJHMFA mortgage loan.This is enticing due to the $15k down payment assistance and additional $7k first generation program.

I've met Dean several times, attended his Note Summits, bought notes from him and was coaching for him in his online program back in 2010 and 2011.

Hello everyone,I am reaching out to connect with individuals who have experienced significant issues with the Section 8 housing program, specifically regarding their failure to enforce their own lease agreements.As a landlord, I had a tenant under the Section 8 program who turned out to be a severe nuisance.