With a recast, my monthly payment could drop, improving cash flow.3.

I feel like my "circle of people" really needs an expansion and improvement and I want someone with more experience in the field I want to be in to really help me gain myself to success!

I position my inspections as 'planning for future repairs/improvements' which mitigates that whole 'he's here to get my security deposit' mindset.And, I would rather have the tenant with me than to have him later claim that something was broken during the inspection.  

We will then, as the units turn over, get rents up a good bit further with additional design improvement renovations and hopefully reno into lower interest rates when they drop or at the very least in 5 years on our 20 year we'll have paid off enough to refi into a smaller loan.That is the only kind of smaller deal we can find in neighborhoods where we want to buy now. 

Appraiser will check the rent schedule and if there were any improvements done.4.

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

We've invested around $50,000 in improvements (central air and hardscaping) and our mortgage is a 30-year fixed at 2.5%, with a PITI of $2400.We think it could rent for $3,750 - $4,000 per month based on local comps.

What I'm aiming for are turnkey rentals and trying to max out the amount of conventional, lower interest loans. again, the DTI income ratio will be IMPROVED if the property shows cash flow.

If there is minor rehab (such as painting and cosmetic improvements) you can still close on a DSCR loan, however it may affect your appraised value, which could also affect your market rent if its a vacant property.

Prepare financially by saving for down payments, improving your credit score, and setting aside emergency reserves.