The appraiser will need to come out and evaluate the new 4plex that you have and making sure you have the income to qualify for that new appraised value at 65-75% LTV and then you proceed with the cashout / rate term refinance. 

Guess my question is this — where will these employees be living/trying to live?

-Zach, those coaches are employees of our investment company and have played a huge role in the 2,000 + units we've been able to acquire.

., income, credit score, rental history) to evaluate applications in the order they are received.Notify Applicants: Let each applicant know you will process applications sequentially and explain your timeline for review.Act Promptly: If the first applicant meets your criteria, move forward with their application and provide them with a clear deadline to sign the lease and pay the deposit.Move to the Next: Only if the first applicant does not meet the criteria or declines the lease should you proceed to the next application.By focusing on one application at a time, you simplify the process, maintain transparency, and mitigate any potential fair housing concerns.Lastly, since housing laws can vary by location, double-check Arizona’s landlord-tenant regulations to ensure compliance with any local rules about how applications are handled.Best of luck with your rental process!

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

Further, assuming a 5 cap market, that would be a loss in evaluation of $1,000,000 ($5,000 x 10 non-renewing units for the year / .05 (cap rate)).

Property Evaluation: Will you require an appraisal?

As a family-run business we’re curious—what factors do lenders prioritize most when evaluating projects like ours?

I have a contact at a military contractor that has employees transfer in for a 3-5 year gig.

I always make sure to help the team but also support them while giving them room to make the position theirs, get them to realize they are part of the company, not just an employee.