First, see if you can negotiate replacing the sale contingency with a longer escrow or loan period.

However, many lenders may require you to wait a seasoning period (typically 6 months) before refinancing.

The more you pay upfront the lower the rate, but you have to make sure to do the math on what you payback period will be.

This property is in the Extended Use Period though mid-2026.  

The NoD must clearly state the missed payment, cure period, and consequences; consulting an attorney for your first default is a smart precaution.

The fall is a slow period for Michigan, so we did great based on the time of the year.

If you’re running a MTR more like a STR, then you can decide to charge the full boat as agreed or, if you desire (possibly to obtain a good review) find a substitute renter for the period in question and credit the original renter.If, like me you operate a MTR more like a LTR just for a shorter period of time, you probably use a specific rental form provided by either the state real estate commission of the local NAR affiliate.  

It works like this:(1) Save up enough money for a down payment(2) Buy a single family home that you will Airbnb/VRBO(3) Ensure the “average period of customer use” is <=7 days(4) Materially participate (5) Cost segregate the property, resulting in large depreciation deductions(6) Use the losses from step 5 to offset your W2 incomeWhat makes this possible is that operating an STR is considered “non-passive.”

With our DSCR loan, there’s no seasoning period, so you can refinance as soon as the property's ready!

The Earnest Money Deposit (EMD) is refundable during the Due Diligence (inspection) period, and goes hard at the expiration of the DD period.