Sometimes we approve someone who has disclosed an adverse credit/financial history or has no rental history and we will require 3x coverage.

I would be very interested in your experience interviewing with brokerages and what you find.I have already applied for my license and way approved on inactive status, but I don’t think it’s necessary.

William, I can so long as you have both the A-B contract and the B-C contract in place as well as the short sale approval letter (if it is a short sale) and the financing approval from your C buyer (if they are not all cash).I can provide the transactional funding in any state, but your offer in the A-B contract must be in the name of an entity, can not be in your personal name.If it is already, we need to speak first.

He said I need to get a signature on a 'notice to vacate' from one of the tenants to even be approved for the loan.   

I wanted to see if there was a legal way of converting the office to a short-term rental as well and just run 4 short-term rentals instead.

@Aaron Gallington- thanks ...if you dont need to complete the refinance now - I would wait for a little bit ....you might get fully approved for the new loan with a lender to make sure you are able to get the loan but  hold off on locking a rate and completing the loan until rates drop a bit more ...if you are able to obtain conv financing - go this route as  75% ltv should be available and  rates / fees  should be much better than a  DSCR program - thanks 

This approach minimizes potential friction while still providing sufficient time for them to make arrangements.Using certified mail for official notices ensures legal compliance and provides a paper trail for documentation purposes.

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

I can see the advantages of being able to get a down payment to reinvest in a small MFR and I will be able to capitalize on my lower interest for some positive cash flow.All of the disadvantages I can think of involve some upfront investment for legal advice and work, time for further education and that's about it.Any feedback will be greatly appreciated.Thanks all!

By the time we paid the legal fees to our lawyer to do the conversion and the reduction in the balance of the loan took a major loss.