Lending as a whole is doing well, but there is definitely more risk in the lending ecosystem right now as borrowers stretch their numbers and get aggressive on margins to keep turning deals.

These agencies began calling me non-stop, demanding I fix the heater immediately and provide the tenant with hotel accommodations during the repair period—or else I’d be issued tickets and face daily fines.I won’t go into detail about how I feel, but anyone in my situation would feel like they just swallowed a bitter pill.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

The other option for you would be to borrow against the equity in the property.  

If they stop going the income stops.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

FHA now allows us to count rental income from an ADU (additional dwelling unit) to help borrowers qualify.

Hi Treza,Not sure where you are in the process there, but when your ready to exercise financing options please reach out, it's very difficult to find a ground up program for inexperienced borrowers without having an experienced GC sign on the loan with you which in turn is not easy to find. 

Hey @Patrick Braswell  You shouldn't have any issues getting a DSCR loan as long as you have at least 1 borrower who owns 20 to 25% of the property, or if a couple of you can get to that level combined. 

I borrowed more money and built a new detail shop; no more crummy landlord!