You may encounter a large cap ex hit in the 1st year of ownership before your cap ex money has accumulated from rent and there should be leeway to handle that with some sort of reserve funds or maybe an open line of credit.

Don't worry, flights would essentially be free (I have tons of points and credit card churn), and I’d have a free place to stay when I am working in California.

It was very childish and unfair of me to “sneak” out in a way "This to me was the biggest aspect I was concerned with handling wrong, so I feel somewhat relieved that I can begin taking things into my own hands and get this property cleaned up and back on the market.I really wish there was something I could look back on and know that I made I mistake on in renting to her, but overall I could not find this mistake in the background, credit, references etc.

I'm so sick of dumping money into this place that has underperformed so much.I'd consider a short sale, but my credit would take a hit for over seven years, and I'm likely in too good a financial state to qualify for one.

It's not necessarily that you're considered a riskier borrower per se, it'll depend on whether that STR is reported to your personal credit and included in your DTI and/or whether you need to count the income from the STR to qualify for the primary residence.

.- thanks ...try reaching out to the local small to mid size  credit unions and banks in NJ ...contact the bank you  have your checking / savings with ...contact the lender that services your 1st mortgage for options .....regarding deprication - are you asking about the depriciation on the  primary home ( subject property ) being added in or  for the depriation from another property ?

His primary mortgage was sold to a private lender in the early 2000s and he claims he had to give an explanation each time as to why he financed with a private lender with such poor reputation every time his credit was pulled.

Mortgage companies, heirs, Bob's construction company that put a workman's lien on the property, Credit card company, etc etc... exception being local municipality liens ( grass cutting, demo etc.)

I have a good credit score 8000 about 40K saved no debt but prices in New York are way too high any advise or anyone in NYC that has invested here.

I added value to this deal by negotiating with the sellers to credit us $30,000 and to pay for all of the necessary fixes during escrow.The real value add though is in the capabilities of the property.