Just be sure to clarify that she isn’t a leaseholder but is authorized to reside in the unit.If you’re concerned about liability or want more peace of mind, you could ask the primary applicant for additional security, such as a higher deposit, depending on what’s allowed under Colorado law. 

Unfortunately it's a necessary evil to weed out the residents that are not ideal.

@Nicholas A.House Hacking a primary residence is the best way to generate wealth. 

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.

If they want their money back fast like a flip then let them flip it and you buy it as a primary residence with a conventional or fha mortgage.

Once the rehab was done I refinanced out of the private loan into a conventional loan as a primary residence.

When it comes to analyzing properties, I’ve developed a specific checklist to make sure the home fits both resident needs and operational goals:Square Footage: Ideally, at least 2,000 sq. ft. to ensure enough living space for residents and staff.No Stairs or Pools: It reduces liability and keeps the home accessible for everyone (this is just my preference).Corner Lots: I love corner lots because they often provide extra parking and outdoor space—both of which are critical for families and visitors.

my condolences on your recent lost.there are a few ways you can do this, as mentioned above you can take a heloc on your primary residence which will give you a second mortgage, first mortgage payment wont be impacted. you can do cash out refinance which will give you one mortgage and payment. it will pay the old mortgage and give you money in your pocket to pay for the rehab.or you can do a renovation refinance which is similar to cash out refinance but we would contractor involved  as part of the refinancing and they are paid through the loan

Hey @Brett RiemensniderThere are a TON of banks/credit unions that will offer as low as Prime on a heloc on your primary residence.

Our primary residents also has some equity, I have a HELOC with $166,000 available funds.