It is much better to have a reserve fund and add it monthly.

How does the already deep in debt CA afford to tack on $50 BILLION in debt service?

I've seen some people house hack a single family home by renting out the rooms, but keep in mind that traditional lenders would not be able to use the income from renting out the rooms (known as boarder income) towards additional income on the application.

Electing disregarded entity status avoids additional filings while achieving the same tax outcome.This post does not create a CPA-Client relationship.

Her mother is willing to (co-sign) and has excellent credit and debt to income ratio that will more than allow but I’m not sure the best way to structure this for the house to still be in our name?  

If you are able to add an additional full bath, it sets you apart in the market big time! 

Clearly the note is more than just evidence of a debt, right?

Coffered ceilings, low corner additions etc.Anyone can slap lipstick on a pig, looking for high value add in high demand markets is where the $ is.

The bank will make you leave 25% equity in the property - but you also still want the property to at least cash flow some - so be careful how much equity you pull out / new debt you take on.I would do a cost benefit analysis of what your actual gain is in cash-flow on buying a new property with a (currently) higher interest rate (if financing), versus just holding on to the current appreciated property and enjoying that cash flow.All the best!

This is a buy and hold in a great location in a great market Does anyone know of a group i can post this deal And last option we were considering was to use her cards to pay off my debt so then I can buy the house from her and get a loan on it If u made it this far thanks 🙂