I need to better understand all impacts each option has for a smaller operation.

We have funding options and could also run the project with our resources that we have in my area of Florida. 

However, some lenders may have guidelines on how soon you can move in, so it’s worth double-checking if they have any seasoning requirements before converting to owner-occupied status.Refinancing Options – If your goal is to eventually refinance into a conventional loan or an owner-occupied loan, be aware that most lenders require 12+ months of documented 1099 income for qualification.

The premiums didn’t make sense compared to the other options I found for the two properties I moved off this policy, nor did they align with the rates I have for other properties in my portfolio that are not on this policy.I’ve shopped this policy extensively across multiple companies and brokers.

They can sometimes be more open to funding niche investments like mobile home parks, especially when you’ve got proven cash flow and a solid plan.Another option could be talking to your uncle about seller financing.

Kitchen:Demo & Prep ($2,000):DIY cabinet removal, backsplash removal, and some demolition.Professional for disconnecting gas lines and major plumbing.Dumpster rental.Cabinets ($6,500):Option 1: Refacing existing cabinets.

If funding is an issue, you do have some options.

You’ll want to check with local credit unions or smaller banks since they often have more flexible HELOC options.

@Dustin Sanders We have a couple of options that can still do a 15% on DSCR, but as Stephenie eluded to above, everything else has to sort of line up in a perfect scenario to make it work.

I was trying to use the rental profit calculator but it did not have an option that I could see for Canadian towns and Provinces.