Apparently they handle all property repairs and maintenance independently and have maintained a perfect payment history, even throughout the pandemic.Lease Option Agreement:Effective Date: November 1, 2022Terms:Purchase Price: $165,000Non-Refundable Down Payment: $10,000Lease Term: 3 years (ends October 31, 2025)Final Payment: $158,000 balance due upon term completionMonthly Payment: $1,150 (no rent credits)I didn't see this to be a deal because if in a the best case scenario my $25000 would walk away with 2400 which is about a 9% ROI.

I would have talked to them BEFORE cancelling the painter and given them the option of which way to go, but since you already cancelled the painter I would simply charge them prorated rent for the 5 days until the painting is complete and deduct that from their deposit.

Entering the real estate market with $10,000 is not only possible–but it can be achieved through innovative investment avenues like FRACTIONAL Real Estate investing or investing in TAX LIENS - research these two options. 

Is that really the only option available via a mortgage broker?

Guests normally don't like to be asked to cover damages that they caused and sometimes give a lower rating because we ask them to cover it even though they have COI that insures my listing.So I'm exploring the event guest screening option that they could put down the security deposit as well. 1.

That way you theoretically offer a better option for someone looking to do exactly what you did (live in one unit, rent the other one out). 

Hi - you sound like a perfect candidate for the "DSCR Loan" option - its the loan type thats popular wwith investors and one of the big reasons why is the exact situation you are describing - running into DTI troubles. 

@Jon Fletcher There are basically two potential options. 1) Amend the tax return in the year of purchase and prove you used capital gains to purchase the property and 2) Sell the property to an OZF, follow the 20% related party rule and then the structure of the sale of the property to be able to reinvest the gains.

I have talk to 4 insurance brokers, and directly to many companies such as allstate, steadily, safeco, liberty, american summit, american family, and a few other, but am basically out of options.

Right now I am just learning about it and seeing what my options are.