You left out information that maybe relevant such as taxes/insurance per year, maintenance cost anticipated per year... plus other expenses depending on rental such as management fee(if you aren't manager), advertising cost to acquire renters, etc....

At the time I looked, 20 or so years ago, the problem with smaller down towns is the proliferation of nearby strip malls, where the stores are surrounded by a large parking lots, and for laundromats, attract more customers as they can park easily, walk to adjacent stores for shopping, snacks, and browse newspaper and magazine racks, which explains why they do better, there's more customers.

If you're looking to make short term use of the equity and have a private lender/investor who's willing to think outside of the box, you might be able to create a custom repo agreement. 

Glad you have good customer service as well -- something that wasn't done well in 2014-2015. 

@Dave Harlan They have an amazing product but your better off using a mortgage broker with a great reputation for customer service because they offer wholesale pricing advantages to their brokers and the only complaints I've ever heard about them have come from service issues on the retail side.

It’s a beautiful custom home, one of the nicest in a so-so Oakland neighborhood ("biggest house in not the best area").Here’s the context:- Bought in 2014 for $590k, appraised in 2022 for $1.2m.- Located in a C- to B neighborhood—close to amenities and mostly safe but not for everyone.- Converted to a rental in 2024; initially rented for $4,750/month, but tenants moved out, and the soft Bay Area rental market has made filling it challenging.

Monarch does a great job of being the "dashboard" and appears to have good customization features.

Generally when I talk to my customers looking to buy a property each year FHA usually gets in the way with one or more of its overlays and restrictions.

People responded by explaining that residential mortgage lenders are looking for US-based customers, who have their residence, income and assets in the States.How do they view foreign debt?

Taking a boiler plate contract is not going to be helpful as they're typically customized to people's needs/wants.