Hi Aamna, DSCR lenders typically focus on the rental income the property is expected to generate, which can sometimes include midterm rental rates, especially if there’s no previous rental history.

I'm not sure how much I'd expect to pay for closing cost.One is without payment assistance; the other is with the new generation loans in Minnesota. 

I've got $1M in equity tied up in a rental property that I will sell around June '25 to generate liquid capital . 

I am a licensed Lead inspector in New Jersey for anyone who needs an inspection to get compliant with the new lead law in NJ. 

Sometimes people can be misinformed, thinking these are loosely originated mortgage loans akin to the “NINJA” (no income, no job, and no assets) loans that were common in the early 2000s and helped lead to the last real estate crash.After reading this guide, you should be both well-equipped to know what to expect in the DSCR loan underwriting process and be able to dispel any myths about DSCR loans being a repeat of the poorly documented “no doc” loans of the past.

At the end of the day, I was looking to generate discussion just like this so thanks for the comment! 

Some type of renovation will likely be required to generate any cash flow in that area, but to be honest; it might still be slim unless it's a heavy renovation.That area is like anything along the NW blue line corridor...great for house hacking, but really tough to make the numbers work on a straight investment deal.You might be better off trying to find something off-market if you are locked into finding a deal in that area.

He says his source at a leading information provider, tells him that their research reports a serious drop in the number of "wholesalers" out there from 90,000 in mid 2022 to about 20,000 now, in fall of 2024.

This happens if the property won’t be used for personal stays and is strictly for generating rental income.3.

Had another one where tenant wanted out of lease and our lead paint certification expired on a Friday and they had a lawyer send a $5000 demand due to unsafe unit (which didn’t have lead paint in it) and us pay their moving.We told them we will let you out of the lease but will never give you a penny - that’s how it ended - they moved out and we let them out of lease