And keep in mind I am just the bridge lender so folks can BRRR and when they refi I am paid out I dont own any of these long term.The OOS investor acquires a home normally from a fix and flipper be it a turnkey out fit or off of MLS and the agent they are working for like a Holton Wise there in Cleveland for instance.So before they buy it the homes were in disrepair and vast majority are bought from locals who have failed to maintain the property but live there as owner occs.. those folks simply dont get hounded for violations like OOS or non owner occ props.What I have seen is when neighborhoods start to go down hill when they start to turn from predominately owner occ to rentals or the school scores go way down..

Mindy

The trouble is that your CPA and we (as loan pros) have different goals in mind -- i want most income to qualify you, your CPA wants least income to save you in $$ paid to the IRS. understanding the requirements will help you file your taxes in a way which might be conducive to qualifying.

With that in mind, I would determine your next step by finding what about the property is giving you the biggest headache.For instance, if the fact that the property is not performing where it should be is the headache, maybe you should tap into the Conversion profit of $650k-$950k and renovate the property.

If you don't mind, I would like to talk to you more about the area when you get a chance.

I am a man of substance, of flesh and bone, fiber and liquids -- and I might even be said to possess a mind. I

I invest in the neighborhoods where my wife and kids can safely walk down the street, That's important for appreciation, cash flow and peace of mind. I

One thing to keep in mind is the insurance, as insurance can be very high depending on the properties.

And that's only one way...One thing to keep in mind is that the property could be within 30 min of your home or your work.

With that in mind, I did my research and relocated out of California where I could do the above.....not saying you have to move, but many do.