Where I am at in my investing career, where I feel we are at in a market cycle, and now having a significant other, I wouldn't do 100% LTV on my primary residence.In terms of HML what is the point if you need to outlay the cash and then get "reimbursed" in a draw?

If there are big ticket repairs they would need to get preauthorization from you and will need to submit a receipt to get reimbursed in the next rent.This approach has reduced my tenants rent by about 125$ and saved me 125$ as well.

@Ricky Gritt Sure it's the law and the PM has to pay out of pocket and it is not reimbursable or deductible;-)New Property Manager, ASAP!

The best solution may be that at closing the settlement company holds a portion of the seller's proceeds in an escrow account, you get the repairs completed and submit receipts to be reimbursed, and then the remainder of the funds is dispersed to the seller.

Thankfully, there is no mortgage against the property so holding costs are low, but I'd really like to market the property and get a lease signed ASAP to start cash flowing and also refinance since this is a BRRRR.The seller's agent has already reimbursed me for the application fee and if there are any big issues to fix, I would have the seller and her agent pay for repairs (but this has not been agreed upon yet).

. ***** Please note that HUD does not allow the following fees to be paid by concessions:-Repair reimbursements or allowances-Home warranty-Discount points or loan fees for non-FHA financing-Lender’s Title Insurance Fee"

I did continue with this purchase on 6/27 and went on for weeks asking about $2,000 reimbursement, nothing.During the time I was waiting on appraisal I acquired another property under contract and I thought everything was moving smoothly so I gave them an additional $2,000 commitment fee for the new property, same scenario, I was approved for 100% purchase ,and thinking the commitment fee would be reimbursed. boy was I wrong.

The water/sewer bill must stay in my name and be paid by me but under contract the reimbursement of the usage cost is the responsibility of the tenant.

I've heard that he could do the renovation but could only be reimbursed for material (not labor) costs.

In my mind, you and your brother could deed the property to your newly incorporated LLC (to give you sole ownership) and could use a cash-out refinance to reimburse your brother with the funds.