@Armando Carrera research and develop your own typical tenant qualifications so you don’t accidentally violate fair housing, landlord/tenant or local laws on occupancy limits based on bedroom quantity/size required for kids, number of unrelated persons in one house, etc.

This is typical with STR's and why we will no longer manage them.

@Calvin CraigIn my experience, deals that are not 50/50 (when both partners are putting in equal capital) typically suffer from the partner who has a lower % not being fully bought in.

A month-to-month rental is typically priced higher, which means you may be worth $4,000 - $6,000 per month.I highly recommend you research your market and understand the value of what you are renting.

But typically those properties go for high prices. 

These are typically one year, interest-only, with no prepays. 

Typically people receiving SS benefits won't qualify unless your house/unit is low income.  

This is more typical in the commercial loan world I'm in.

These lenders are more flexible, especially if the property has equity and your credit and financial situation are solid.Here’s what you can expect: LTV (Loan-to-Value): The lender will typically assess the property’s current value and lend a percentage of that, often around 65-75% LTV for cash-out refinances.

That's a typical scenario and could cost you $10,000 - $15,000 so that would be a good starting point for your reserve.But there's more!