Hey guys, My wife and I are under contract on a condo in Kihei that is vacation rental approved. It took a lot of research and contemplation before I was able to convince myself that paying a 30-40% premium for a cond...

Thanks for the comment. 

When the first deal failed I turned to BP to get answers to questions I had that were not being answered by DFO and share my experience with other LPs.Within a few days I received an email DFO stating:"I will be sending you a legal letter in the mail and email tomorrow regarding your false and misleading internet comments."

I run sum numbers for you please see comments below before refinancing and post refinancing .If I were in your position, I would approach it as follows:Initial Investment Assumptions: Market Value: $360,000 Purchase Price: $360,000 Equity: $0,000Financial Breakdown: Hard Money Loan (LTV 100%): $360,000 Interest Rate: 10% (30-Year Amortization) Monthly Payment: $1,995Upfront Costs: Origination fee (1%): $3,600 Closing Costs (3%): $10,800 Renovation Costs: $10,000 2 Month of Carrying Costs During Renovation: $5,390Total Upfront Required: $29,790Total Capital InvestmentPurchased price $360,000 Upfront Costs $29,790Total: $389,790To make this investment work, you need to rent the whole property for at least $3,165/month, refinance it let say after one year with 5% interest with a traditional mortgage.Year One Rent: Monthly Rent Income: $3,165 Monthly Rent Losses during renovations (2 Months): -$6,330 (-$527/month distributed over 12 months) Total Rent Income: $31,650 per year => $ 2,638 per monthMonthly Expenses: Hard Money Loan Payment (10% Interest): $1,995 / per month interest only Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $292 per month Assuming 0% Vacancy first year Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $2,637Monthly Net Cash Flow: $1Post-Renovation Refinancing Strategy:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate your initial investment of $29,790 plus your 360k debt into a mortgage.

What are the chances that someone would search this online forum, find this thread, and create an account just to make a positive comment on this thread about this company?

Any comment or encouragement would be appreciated.

After replying to a couple of comments and really thinking about it, it's clear we offer much more value than Evolve.  

Thanks for the wake-up call, I needed to be humbled in hearing your comments about housing vouchers.

You should get more than enough help from agents commenting on here soon in Columbus.

The better questions in everyone's comments are why are you moving out of your home?