If you need an extension for some reason most are really good about giving you a little extra time if it came to it because they don’t want to have to do the work to take over the project.HoldsLTV - 75-80%Interest - 3%-3.75% as an arm from 5-7 years (we don’t plan to hold forever so better rates are more appealing to us here)Amort - I push for 30 year but a lot are 25No feeRehab loan if needed which rolls into PITI as you draw funds.

This might fall into the 20 year, ARM products.  

Hello...Assuming an ARM?

Crimes reported doesn't necessarily translate to safety or bad investment.

Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.

When done improperly, as so many people do, an LLC is just a "security blanket"; it gives you the illusion of safety and little else.

Samantha Reeves,Thank you for your reply I went through the Handbook , and although it's quite detailed , it seems to me that as Long as the Roof is in Good shape, there is no Peeling Paint on the Exterior of the house, and that the HVAC system is in working order , as well as there are no Safety hazards regarding  the property/house.What I'm not sure on though , is what if there's Some rotten wood on the exterior and or you want ( Need ) another $5,000 to upgrade the house .....new cabinets, faucets, flooring, re-paint the inside ?

Now, since as much as 7 out of 10 businesses fail these days; I am not sure how secure starting one's own business is either without a huge safety net.There's no guarantee that REI, self-employment or W2 workers will always be safe and sound.

Mortgage 15/1 arm at $3.375% with max 4% interest increase due 15 years from July 2015 (Aug 1, 2030).Current condo monthly maintenance fee : $1036 includes water, amenities (pool, tennis court, concierge, gym, sauna, community room with pool and ping pong, maintenance)Current monthly mortgage payment: $499 interest, $504 principal Monthly taxes and insurance: $459 monthly contents insurance: $38Past Assessments: $11k for building HVAC upgrades $8k for building updates and building reservescurrent market value $400k - $425kcurrent  monthly rental median: $3100-$3200monthly landlord insurance: $45I'm also trying to decide if I should rent or sell and invest elsewhere.Appreciate all insights.

On July 17, he had the following to say: “I believe current data are consistent with achieving a soft landing, and I will be looking for data over the next couple months to buttress that view…While I don’t believe we have reached our final destination [for inflation], I do believe we are getting closer to the time when a cut in the policy rate is warranted.”TP: Bird Words — When it comes to armed conflict, ‘hawks’ want war and ‘doves’ want peace.