There are lenders who can do a cash out refinance for the new appraised value after three months so it can be a good choice for an investor who's doing a BRRRR.These loans can work for investment properties that are long term rentals, short term rentals, non warrantable condos and condotels.

This is what causes people to not call ever and to have friends fix stuff the wrong way.If they want something checked out and then it turns out to be fine, maybe then a service call would be warranted, but not every time especially when they are service issues that are on you.$250 a call for someone is insane.

What exactly do you have to offer the deal that would warrant them taking on that kind of risk? 

My condo is an HOA that is suddenly non-warrantable for conventional financing.

@Kevin Hilton not sure which market you're looking at for your next purchase, but I have a lending partner who can do investment deals (including non-warrantable condotels) with just 15% down if it helps. 

And in many cases this may be warranted as health and safety issues may be present.  

The contract I could find says the following:```...together with the right of ingress and egress at all times for the purpose of mining, drilling and exploring said land for oil, gas and other minerals, and removing the same therefrom.And said above described land being now under an oil and gas lease originally executed in favor of [Oil Company], Chicago and now held by [Oil Company] it is understood and agreed that this sale is made subject to said lease, but covers and includes of all the oil royalty and gas rental or royalty due and to be paid under the terms of said lease.It is agreed and understood that of the money rentals which may be paid to extend the term within which a well may be begun under the term of said lease is to be paid to the said [purchaser], and in the event that the said above described lease for any reason becomes cancelled or forfeited, then and in that event, the lease interest and all future rental on said land, for oil, gas and mineral privileges shall be owned jointly by [owner] and wife and [purchaser] each owning & interest in all oil, gas and other mineral in and upon said land, together with interest in all future rente.This sale is made for and in consideration of the sum of Ten Dollars, cash in hand paid, the receipt of which is hereby acknowledged.To have and to hold the above described property, together with all and singular the rights and appurtenances thereto in anywise belonging unto the said [owner] heirs and assigns forever, and we do hereby bind ourselves, heirs, executors and administrator to warrant and forever defend all and singular the said property unto the said [purchaser] heir and assignee against every person whomsoever lawfully claiming or to claim the same or any part thereof

However not finishing the rehab or in those areas the top rehab contractors wont even work there.. that's another thing most people don't understand your not going to get top shelf contracting or rehabbing in assets that don't warrant it or have the funds to do a full rehab.I fund a few turnkeys in Indy the average rehab to do a proper rehab is 25 35k per house.. so stands to reason these 5 to 10k rehabs we seen talked about or even 15k.. u can only patch and fluff and paint over etc.. those houses if you think you just rehabbed them that wont be the case you will have continuing cap ex that will kill the investments.

I would think you would need to be at around $3,000 or more a month to warrant that.

This may warrant a separate post but we found it strange that the initial service call to diagnose the microwave issues (~$90) was in late August, but they didn’t order the microwave until late September (~$670).