This sales tax does not apply where there is a landlord/tenant relationship such as renting a house or apartment where the tenant is considered a permanent resident. 

I've called a couple dozen other local lenders inquiring about their ability to finance manufactured or part site and part manufactured (on a permanent foundation, really nice homes), vacant land, and other situations without success regardless of value, LTV, rate, or term.  

The short is:51,000 purchase repair64,000 cashout13,000 gain from refi operating proforma640/mo PITI (using rule of 1% loan amount estimation)725/mo income 85/mo positive cashflowI do this by buying properties at similar discount, use hard money or other short term finance solutions to acquire and rehab, then use permanent mortgage solution to cashout, hold and cashflow for income.

These types of tenants are seeking six month to one year of housing, this is NOT a permanent move.

I can try repainting the wet spot but I want a permanent fix and don't want it to rot overtime.

We do have permanent financing products to do the hold portion of the transaction.  

You can also create auto attendants to make it look bigger than a 1 person company, and if you ever needed to port out your current cellphone number for any reason (the one that's with your employer) you can also port it there (temporarily or permanently).Jean

the $405K i was talking about was a Personal residence, but on my rentals, I work with a Commercial lender at a local bank, my origination is $250, and lenders title, BPO in lieu of appraisal, doc prep, flood cert, recording, and a few misc total around $1800 and I get a rate of 4.5% they Amm at 15 years on a 3 year term, (a may only reup the loan once before they are paid off)  the Attorney thing is expensive, i never knew,  I dont get charged a Credit check fee, as they look at my PFS every year and do 1 Credit Pull and im good for the year, How I do it is Lines of Credit to purchase with cash, then we move them to permanent financing later.

You start with conventional bank financing, on the commercial loan side, and then proceed to get Permanent (or in our banker parlance, take-out) Financing that is put in place to improve cash flow and/or to assume/sell to investors.

I took my GC through the property last month and he estimated $20,000 in repairs, which mainly are to permanently fix the water flood/leak issues.