If substantial renovations or capital improvements are made in later years, those improvements may qualify for new bonus depreciation.3.

Do you mean it would need an architect because that's required by the jurisdiction, or because the project itself would need an architect's expertise?

We renovated duplexes and converted. if the price of a condo is similar to a single family home I would pass on it.

You could convert them to a DSCR loan but then transfer them to a LLCWhat we have done is save for down payments and renovation costs, - buy properties that need work rehab them and then refinance them out making sure it meets our dti.

I’ve got a few rental properties under my belt and am now diving into value-add multifamily projects to grow my portfolio.My focus is simple: build wealth, create opportunities, and enjoy the process along the way.

My husband is leaning toward keeping it since it is a project we would have to deal with. 

Another great option is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat), where you buy a fixer-upper, renovate it, rent it out, and refinance to pull your cash back for the next deal, and this is a good route because most private lenders can go higher LTV than on a rental loan! 

Hello,I am interested in purchasing a recently renovated $195K property as a 'secondary' home for the next 4 years to use as a future LTR.

Compare this to other hard money lenders to ensure you’re getting a competitive deal.Reputation: Before working with any lender, it’s crucial to check reviews, reach out to other investors who’ve used them, and potentially even meet with them in person.Experience with BRRRR: If possible, find out if they have experience funding BRRRR projects specifically.

@James Calvert there is conventional financing that allows you to use renovations to make the property livable, just as you would with an FHA 203k loan.