-  whoever reads this.  

Hello everyone, I purchased my home two years ago, and currently, I have a tenant renting a room for $800, which helps cover my mortgage.

I think this is a mistake.

With “very little income” where is this $8k/mo coming from?

I'm hoping this forum can help me understand what my alternatives are.

My experience has been that most lenders don’t immediately move on this, many don’t take action for 6 - 12 months.  

Hey @Chi Lo - I actually have a video on my YouTube page about this (lookup ClosedByMo on YouTube).Regarding walls being damp and waterproofed, it means there needs to be waterproofing on the basement retainer walls (this is something you can do post-construction and the contractors would need to dig around the house exposing the basement/foundation to apply the waterproofing). 

What made you interested in investing in this type of deal?

Thank you very much for your help!

To discuss other side of this thought process on new builds..