I have found that the "value add" opportunities, with rent increases, renovations, zoning conversions, and other work needed, absolutely do take up more of your time compared to a more turnkey property - even with third party management overseeing the process. 

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

How does the Airbnb licensing process work in your area?

I’m in the process of purchasing a second home in Aspen, CO, which will also serve as my first STR property.

I know PA has a process to go through before you start a foreclosure, but have never seen a requirement to offer a mod.Sure, https://legal-info.lawyers.com/bankruptcy/foreclosures/delay...Under the Dodd-Frank Act, the bank must first wait until the payment is more than 120 days overdue."

Pros: the cabin will be able to house our entire family, easy process to refinance.

It is crazy how similar my process has gone.

- Are there other lenders you’d recommend for refinancing rental properties that might have a smoother process or better terms?

@David Lewis biggest issue is that algorithms can't process pics effectively (yet).So, algorithm can't effectively compare how nice each property is.

You'll definitely need more time to get things processed.