Do you have W-2 Income, 20% down, reserves, and a decent credit score?

Having an idea of the appreciation is an important part of keeping score.

Quote from @Griffin Malcolm: Open an LLC and apply for a small business line of credit from Key Bank.

Should We:Sell, take advantage of the capital gains law, move, and pay the mortgage off on the new house, credit cards, etc…?

I have also have saved almost $50K so far to take a start in this game and also my personal credit score is above 750.I'd like someone to guide me purchasing my first property and want to kickstart with a small property first.

You can look into switching to a local credit union or portfolio lender, as they tend to be more flexible with regional policies.

The appraiser gave the house a low score so the bank said it is a risky investment for them and gave me a 70% loan.

Her credit isn't the greatest, but she's super sweet and a hard worker, so you are certain it will work out.

This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

Private lenders tend to focus more on the value of the asset or project rather than your credit score or financial history.