While there's no strict requirement to match the original mortgage terms, reinvesting the full proceeds without financing or using leverage to enhance returns is key.If you don't reinvest the full amount, any shortfall ("boot") will be subject to capital gains tax, and depreciation recapture may apply.This post does not create a CPA-Client relationship.

I have had a couple of clients just get the loan approved with the long term rates and then the bank really doesn't care how they get it rented out after.

They must provide quality service, or their clients won't want to pay the price.

Consult a tax professional to optimize deductions and explore strategies like Real Estate Professional Status or short-term rental loopholes to apply depreciation to non-passive income.This post does not create a CPA-Client relationship.

I want INFORMED clients.

On the other hand, a detailed quote with a higher total may offer more transparency and reduce the risk of surprises as the project progresses.I specialize in consulting services for situations like this, where I help clients evaluate contractor quotes, ensure transparency, and navigate the renovation process with confidence.

I feel this gives me the flexibility to find the right solution for my client and not just sell what my bank offers.I'll also throw in my 2 cents on common differences I've seen in my career:CDFIs - Because of their subsidized financing structure, they have the ability to be a low cost lender (and sometimes provide grants).

Quote from @Lorraine Hadden: I have client who are try to wait for interest rates to come down rather than buying what they can afford for the best rate and hold.

Help your clients write smart offers based on #4.

Success stories are happening every day,  I have clients breaking record rents on house hack more so than ever.