He is older and does not have a mortgage and there is a lot of deferred maintenance on the property.

So, Colorado vacation rentals will be taxed at something between the current residential tax rate of 6.7% and the commercial tax rate of 27.9%.

Quote from @Nicholas Dillon: I read somewhere that you can request to have your mortgage insurance dropped once your Loan to Value reaches 80%.

The amount of capital required depends on the city's appreciation rate.

I just completed my 20 hour course for my Illinois Mortgage Lending License and the final step is taking the state exam.

Quote from @Ryan Mcpherson: Moved to Austin for work and purchased a home in 2021 with just under 4% interest rate.

The mortgage and property taxes use up most of the income from rent.Don't focus on the number of rentals, focus on the quality of the rental. 

I think most investors want to win on more than just the interest rate.

We are responsible for the mortgage as of January 1 - but it's come to our attention that they stopped paying it back In October 2024.

There are quite a number of things that can make utilizing an FHA loan more difficult such as more barriers during appraisal, appearance of low qualification/little cash, typically longer closing period, likely higher interest rate, and PMI cannot be dropped without a refinance if 3.5% down.That said, just chain 5% down conventional loans, and make sure your duplexes pay for themselves.