I have meetings with my lawyer to discuss partnership contract and acct for the financial piece.Since this is extremely new, I am building a team of a contractor, broker, loan officer, accountant, Lawyer and investors. 

I also want to say that if you’re marketing to traveling nurses, the key things they want are 1) black out curtains; 2) quiet, and 3) to bring their little doggies (so he pet-friendly.Another tip is when using Furnished Finders (which is a $99 annual fee per listing) if you have a multifamily, just get one FF account per address, and then as each unit becomes vacant, just change the pictures and listing copy.

I think they are just an extremely conservative bank and that is their interpretation of Fannie's guidelines.I have already gotten approved from some other banks (credit unions), so I'm not worried, but I am curious if anyone else has run into a bank telling them they need at least a 20% down payment on 3-4 units, regardless of it being FHA or not.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

You all have been extremely thorough and helpful.

Hey BP World,I’ve been a bit quiet here for a while, but I’m ready to change that.

Hey BP World,I’ve been a bit quiet here for a while, but I’m ready to change that.

However, every company I find either doesn't insure non-owner occupied units or is extremely expensive.

So, if you can dump 5k onto the HELOC early in the month, and pull that out progressively over the course of the month, you're saving 2,500 * (.04 / 12) = $8 per month (2,500 would be the average daily balance if you pulled the 5k out evenly over the month.)We did dozens of hypotheticals, and even the more extreme ones topped out at $10 per month.

.- They are extremely manipulative in their sales approach.