HOA is about $400 a month and I need to cover 2 years property taxes and back HOA to keep foreclosure at bay while holding or until a sale.

Many Multi-family properties now in debt service trouble as the GPs took out very risky 2-3 yr floating rate or adjustable loans so they could cash flow after buying very expensive 3Cap apartments, which loans have gone from 1.5% to 5% or higher, and knowing that obvious and predictable risk since every primate could see mega-inflation coming in early 2021 due to more money printed in 2 yrs than first 200 yrs of country, They "smartly" took out Rate Cap insurance, (cost 50k for a 12 month policy on 10mil loan to cap variable insurance rise about 1-1.5% above the origination level) but now that US 10yr up 10x from 0.31 in 3/2020 to 4.2%, that same insurance policy is 1.5-2.0 million not 50K, so They can't cover the much higher debt service nor buy new cap insurance without shutting down distributions or capital calls.

I have about $150k cash on hand as well as I am planning to get a construction loan to cover the remaining cost of a duplex.

I’ll either offer them a lease extension until spring or charge a MTM rate that covers 2 months vacancy.

The difficult part is going to be for buyers who will have to either come up with the funds to pay their broker or negotiate seller paid closing costs to cover it

Does a dcsr loan cover the rehab?   

We expect it to gross $4,000 - $5,000/mo which would cover my entire PITI.What's stopping you from adding that ADU?

The cash flow is there, however you'll need 75% LTV in order to cover the existing loan and HELOC balance so won't be putting any cash back in your pocket.

I believe if I get the upstairs unit (3 bed, 2 bath) ready, I should get around $2700 per month for it plus they would cover utilities.

Hello Everyone,I bought a home back in January 2024 using my FHA loan and I received a call from Atlantic Capital Funding saying that I could FHA streamline (interest reduction) from my 6.625% to 5.7% and could even get two mortgage payments covered, (allegedly).