It may take 2-3 extra months, but the rent is still coming in.

While the heater issue adds extra stress, addressing it promptly will protect you from further fines and penalties.

It happened to coincide with Hurrican Harvey and we flooded during the rehab. 212 extended the HM loan without any extra fees for 4 months until December 31 2017.

So, by transferring income from a rental schedule E to a business schedule C you're creating a significant extra tax.

Real estate investmnets are capital intensive and if you don't have extra money sitting around to make the emergency repair when it happens you'll find yourself in a terrible position. 

It sounds like a few people on this thread don't really understand how PMC's operate or why they may charge extra fees.

The 2-3% points in extra cost are worth it if you plan on using as I described above because the use would be for a few  months at most and due to that short term use you can survive a rate adjustment up.But, if you have no plan to payoff the debt like when using for a down payment on a long term hold why pay the extra cost for flexibility and have the additional risk of the adjustable rate with the amortization looming when you can get a fixed rate second mortgage. 

In many markets section 8 is higher than market rate. and investors need that extra return to mitigate the risk of sec 8 tenants generally speaking.

   #9  SWEETEN the POT:    Do not think that paying extra rent is going to entice owners to rent to you. 

For me, this is just a few extra bucks I have to pay to the CPA industrial complex.