For added liability protection, consider setting up an LLC for the rental, though this may have limited impact if the mortgage is in your name.This post does not create a CPA-Client relationship.

It’s not every day that accusations of rent manipulation make headlines, and I wanted to understand how this impacts the millions of Americans struggling with housing costs.

my condolences on your recent lost.there are a few ways you can do this, as mentioned above you can take a heloc on your primary residence which will give you a second mortgage, first mortgage payment wont be impacted. you can do cash out refinance which will give you one mortgage and payment. it will pay the old mortgage and give you money in your pocket to pay for the rehab.or you can do a renovation refinance which is similar to cash out refinance but we would contractor involved  as part of the refinancing and they are paid through the loan

The shorter the prepayment term has an impact on increasing the rate.4.

Carnegie Mellon creates “$2.7 billion in economic impact each year”.

Using a 1031 to upgrade to a two-family could help you reduce or eliminate the $1,000 out-of-pocket expense you’re paying now.Also, condos often come with HOA fees that limit cash flow, so be mindful of their impact.

In regards to the valuation of the property what impact will this have and when do you know when its time to sell?

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Which governing body determines these requirements?

Do some scenarios to see the impact on your cashflow.