After closing, work on increasing your income, reducing debt, and preparing for a second mortgage.

In addition we do not accept any applications for longer move in than the remainder of the current month and the next month (so if tenant is unable to move in by march 1, they cannot apply until feb 1 as we are unwilling to go longer than that without rent and will hold another open house).S8 needs to streamline their process if they want to increase their housing options.Best wishes

They may also require US credit history, although there are a handful that will not require a US credit report for an increased rate/ reduction in LTV. 

My terms are identical to yours as far as the 1-year lease with 3 options to renew (for them), 3% yearly rent increase, etc.

It's tempting early on to leverage as much as you can so you can do more deals and keep liquidity, but increased cashflow especially with PMI will make you sleep a lot better at night.

Prices have increased (higher terms/rates) as the fed rate has gone up so you have seen people who could get 8 or 9% now in double digits.

My mortgage increased earlier this year as my home owners insurance went up due to the company closing and my escrow didn’t have enough to make up the difference so I’m kind of pay check to pay check right now.

In this era of increased rates, obtaining properties that will produce a good return are harder to find and often involve quite a bit of work.  

If the market value mentioned above is accurate and the “initial” loan balance hasn’t increased by rehab funding, I wrote above that the proceeds are just a couple million after closing costs and commissions.

Do you believe home prices will increase?