By reducing the principal balance, your lender recalculates your monthly payment based on the new, lower balance.How Does Mortgage Recasting Work?

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

That plus his willingness to communicate with anyone who asks him questions and his team are very  praiseworthy.

South and South East is less expensive, but you're not going to get the appreciation and my impression is it's not as good a tenant base.

Based on the numbers seems like it was a straight forward conventional loan...any challenges?

Hello BiggerPockets Community,My name is [Your Name], and I’m based in Orlando, FL.

Should i speak with the alleged loud tenant or send communication out to all as a reminder?

One challenge was getting the hotel occupancy up after renovation since no one had booked or stayed in years so there was no existing guest base.

@Federico DalloI'm an investor based in Canada, which is a market quite similar to that of the US.

Hey everyone,I’m Luke, a new investor based in St.