Originally posted by @Carlos C.

Originally posted by @Steven Lee:Alpesh,Unfortunately, your Loan to Value (LTV) is at 70%.

The original pics are meant to serve as the benchmark. 

Now the senior lenders start filing foreclose against the original sellers.. the Original sellers start filing complaints with the AG.

Plus, many of the properties here are older and not exactly cheap.My other option is Tucson, AZ, where I’m originally from.

The original goal, rightly or wrongly, was to maximize rentable units, so we rebuilt the main house from the foundation up into a 3 bed 2 Bath 1,600 sq foot main house, and added a 600 sq ft 1 Bed 1 Bath JADU, along with a 1,200 sq ft 3 Bed 3 Bath ADU.

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

Now solely as a lender, i actually reverted back to it in unison with our mortgage origination software. 

Refinancing isn’t an option yet because of the way we purchased it (unless someone has a bank that will look at the deal differently) our original plan was to pay off our balloon in early 2027 when it is due which the bank will treat as a purchase and then we would wait until we are able to refinance so probably 2028 and then we could pull out a good chunk of equity at that time.

The key is staying flexible—house hacking isn’t dead, but it might look different than you originally planned.Good luck!