Principal balance currently at 314kProperty Details: It's essentially a "2-in-1" property, with the main unit rented out for $1,900/month and an attached ADU bringing in an additional $1,200/month.

Additionally, do you all generally use a smaller income criteria if the rent is inclusive of utilities? 

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

@Kaylee WalterbachI would like to learn more about this Momentum 2025 Summit, where can I find additional information?

Additionally, applicants can (optionally) upload tax forms and bank statements for our review.If you're looking for a website you can utilize on your own @Bruce Woodruff mentioned a couple that are popular.

We will have lots of renovations and additions to do over the years, so I'm worried that it will be hard to save up for more rental properties.Any suggestions?

Additionally, add in the ambiguity/risk of the due on sale clause or ramifications on the conventional loan of transferring the property from your individual name to an LLC - the economics don't make sense, and the headache isn't worth it even if it did, in my opinion!

In addition, I've helped many other investors finance their deals as a mortgage broker.I'm happy to share my experience as both an investor and lender.

However if you had done a warranty deed (or a special warranty deed if you still have a mortgage on it) instead, your LLC has a claim against you for the issue on the title, and you in turn can go back to your initial title insurance to fix it.Some title insurance will allow to transfer the coverage to an LLC that you own 100%, but not all of them do or they may require an additional fee.

Oh, AND I get to add some new additional handcuffs to the mix.Zero sense, it makes absolutely zero sense.