It’s so serious that, beginning January 1st in California, any lender who knowingly originates a consumer-purpose loan misrepresented as a business-purpose loan can face criminal charges and jail time.

I believe that the ARV I originally thought was correct of 160-165k which after a cash out refi will get me my money back and then be about break even.

@Scott Trench what happened to the original thread?

Originally posted by @Tom Carmody:I’m newer to investing and came across a condo for sale in Florida which apparently is a “condo-hotel.”

Cap-ex was needed for:* Original 1960s kitchen, appliances out of order* Original 1960s Pepto Bismol colored tiles in the bathroom* Tobacco and marijuana stains/odor in every room* Stained carpet covering damaged hardwood* Broken side door from forced entry by police* Zero recessed lighting with 3 layers of blinds on every window* Lots of trash in the basement both on the floor and mounted to the joists overheadCheck out the Zillow listing at: https://www.zillow.com/homes/119-Jasper-Pl-Alexandria,-VA-22...What made you interested in investing in this type of deal?

I'm assuming there's lots of stuff out there that's way cheaper.I originally wanted to just buy a couple lists of 10k numbers each of targeted motivated sellers, and then hand them off to a VA company that will dial them, but I was told it'll be a much better business if I get proficient myself and then hire my own VA's and train them.

It sounds like there's a bit of a vacuum in reliable local property managers.I was originally thinking of setting up a property management company to take care of the properties that my partner and I purchase.

Originally posted by @Chris K.

Improved DSCR: If a company’s DSCR has increased significantly since the original loan was taken out, it may qualify for better interest rates or terms, making refinancing advantageous.2.

Buyers represented by our company: A value proposition to buyer clients is that we would bundle the highly-commoditized title, closing and mortgage origination services with buyer-agency service if buyers use and directly compensate our agents.