Lenders will qualify you based on the rental income covering both the first and 2nd mortgage payment. 

Bathroom will have corner entry shower insert, and a sizeable single sink vanity.2 zone mini splits will handle HVACElectrical will need to be redone 100amp wont cover both and due to the EV charger in garage, electrician says it will be pushing it with split 200 amp panels, possibly necessitating a split 400 amp service.

When I need to send a fax I go to FaxZero.com and can send up to 3 pages for free (with logo on cover page which is just fine by me) or one can pay a minimal fee for larger documents.Hope this helps!

I'm assuming you are now at a point where you have enough money coming in to cover your minimum living needs.

.- Fortunately, my insurance policy covered my lost rent.- Recently, my property taxes increased, making my monthly payment to the bank $2,200.

And in my opinion, his book covers everything a newbie needs to understand: from asset selection, to evaluating sponsors, to capital structures.

Umbrella insurance covers the rest of the risk.

Many lenders, including my group, offer a DSCR product to refinance on the back end as well.Before taking out a loan for a BRRRR project be sure to calculate all carrying costs (taxes, insurance, utilities, HOA, loan interest, etc.) to ensure (i) you have sufficient cash to cover monthly payments for at least the duration of the project and (ii) your estimated rent after repairs is at least 1.10x PITI (monthly refinance loan payment principal and interest, taxes and insurance).We have a proprietary BRRRR cash flow calculator tool that we share with our clients to help reliably assess costs and returns for these types of projects.

As mentioned above, the book published by BiggerPockets (30 Day Stay) is a wealth of knowledge that covers questions someone looking to get into the space would want answers to (like myself).

@Sandra Morrison @Jimmy Lieu @Brandon Goldsmith I’m looking for long term rentals where I can live in a unit and have the mortgage covered.