This requires the right renovation components and speedy make-ready after a tenant departs.

Hey Alex, There are foreign national DSCR loan programs available for your scenario: Below are the list of requirements I have found most lenders have : 1.

In Cleveland you can find below market rental ready duplexes that require minor repairs (keep in mind that discounted properties come with their own challenges).

Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.

I use the individual stackable units when I have space restrictions.

Do you mean it would need an architect because that's required by the jurisdiction, or because the project itself would need an architect's expertise?

I individually priced all my materials and got several estimates from contractors.

A refinance into an LLC avoids this risk but typically requires a commercial loan with higher rates and stricter terms.If asset protection is the main goal, umbrella insurance may suffice without disrupting financing.

I'm sure it's a little more efficient in larger cities, but my market requires up to 60 days to get approval.Lower your expectations with Section 8 tenants.

My issues with RentRedi have not risen to the level requiring immediate action.