@Chase Calhoun - great looking product you have built.

@Alan Mills You mention contractors not keeping a time line , not General Contractor . 

Bringing in a partner, second mortgages, line of credit are sources of additional funding to close. 

You will need 6 months worth of the payment (including taxes, insurance, HOA) in liquid assets to show an underwriter.Now with doing a rental agreement, do I need to have tenants living in the home first or new prospects lined up before the underwriting? 

Fortunately, the investors I partner with have plenty of room in their lines of credit to support multiple deals and still have a sizeable buffer before they max out the credit.

Especially if you're doing enough volume to get good discounts on products.

FHA 203k is an amazing product and under used! 

Plumbing issues, sewer line replacements, and unexpected rehab surprises are part of the game.Break-ins and theft happen.

However, looks like there is a harsh line as far as what locals can afford and if you go over that, vacancy is high.Watertown, NY- I’ve seen many great multi-family properties in the low to mid 100s.

What are the tax ramifications of deducting interest on the two units we rent out on a first lien HELOC if we are parking paychecks and using that line of credit for personal expenses (groceries, gas, maintenance items, vacations, etc.)?