This fourplex is renting 200-250 more per door than the other fourplexes so that can give you an indicator of its performance.The UFMIP is partially refundable only if you go from FHA to FHA refinance loans which is commonly referred to as a streamline FHA refinance.If you go from FHA to conventional you will get no refund of any unused UFMIP.refinance costs are generally 3500 or so with appraisal since fourplex appraisal's are around 750-900 (higher than SFR appraisals).If you include costs for prepaid interest, taxes, and interest your total closing may be much higher but these are costs you'd pay any way in lieu of refinancing.

Many banks want to see a signed lease for 12 months at $1000 a month rather than $30,000 in pre-paid rentals.

What protections do new owners have from tenants who can falsely say that they prepaid 20 years of leases upfront?

At the time we were able to acquire the property for 10% of PP, 10% of rehab, 2 "points", & 6 months prepaid interest (about 12k).

This is just for closing costs +  prepaids, excludes discount points.

should i get a couple pre paid flip phones? 

Listed at 279,000Negotiated to 240,000 w/from sellers toward my prepaid and closingVa loan 3.6percent no funding fee no pmi Owner occupy Owners are 4 heirs none live in area and don't get along they want it gone 2x2bed 1bath current rent 825 market rent 1000-12002x1bed 1bath current rent 425 market 550-750Needs 15-20k in work overestimating which I have in cash Mortgage payment roughly 1800 including escrow I will occupy one of the 2beds Break those personal calculators out of love to hear I did well or I suck and should run for the hills haha if there is anything else needed or I missed let me know wrote post with phone as I'm a firefighter on duty.

Contact a local attorney or better, enroll in a pre-paid legal service so you will be able to contact an attorney anytime an issue or question arises.

For the first options it's FHA with DPA and my total cash I need to put upfront is $ $7490 ( down payment, closing costs, prepaid escrow reserves).

In general it's a 50% LTV loan, fully amortized over a period up to 15 years, and can be pre-paid anytime without penalty.Send me a PM if you'd like more information.Continued success!