They allow you to include up to 6 months of rent payments in the loan if you are unable to occupy the premises during the renovation.Just to be complete, it's also worth mentioning that both the VA and USDA have renovation loans.

It gives you the flexibility kind of like a credit card that allows you to borrow a certain limit and withdraw funds as needed.

This is what allows for so much more retirement income.

My question again stems around using seller financing to allow them to receive a consistent monthly pay of X amount and delay/lower their tax bill in the short term instead of going through a lender to borrow 800k+ causing my mortgage to be significant part of our income roughly 40-50% of take home -  which we are approved for LOL.

Thanks in advance,Keyshawn Good morning, the Destin market allows for short term, mid term and long term rentals depending on the area.

After 2 years you can apply for a “Rent consideration” (I think that’s what they called it) as long as you still live there and that may allow you to increase rents by more than the annual allowance (probably designed for unit that are very low rents).

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

This will hopefully allow you to leapfrog your way to success!

.- Many of these HCOL areas also have strict limitations on AirBnB or short-term rentals... that do not apply to owner-occupants - thus allowing for extreme cashflow potential for house-hackers.

. -- won't be allowed to rebuild at all.