if you have 3 rentals I would imagine you have some equity,  my guy will do up to 80% of purchase, at 4.5% 6 month interest only. i can pull the 20% down from equity or cash, and float fix up on a line of credit, self fund, or the bank will run it like a construction loan, I just cant see paying 3-5% up front and 12% interest the cost of the loan, and holding costs will kill your profit. 

I have had to re-subfloor rotten ares that had tile, vinyl sheets, stick down tiles, or floating floors originally... none of it makes a difference.Water will ruin anything given enough time.So...

Gurjot Grewal I personally like to lock in my rate with one lender and float my rate with another lender.

I have lived in downtown Denver for the past 8 years and have loved it, but my social circle has drifted away as people have moved, gotten married, etc.  

Putting down 25% plus paying the rehab costs for the houses in my price range would basically mean coming out of pocket 40k to 45k on every deal.I'm guessing they're floating that money until a year or some time period where they can get a cash out refi with a bank.

The best thing I've ever done was show up and tear off a roof, paint a house, clean a house .... you get my drift.

Most folks are floating closer to 1% or under.

If the lender doesn't take the rental income into account but does take the PITI into account on my DTI I wouldn't qualify for a 2nd home, unfortunately I couldn't float 2 mortgage payments (I still have a fair amount of student loan debt).

That way, the best advice would float to the top, and all the misinformation would be lost at the bottom.

How long can you float the note without tenants being in there?