debt service isn't included in the 50%...that's reserved for taxes, insurance, management, vacancies, repairs, maintenance, utilities, trashouts, cap ex..etc.....

Do not leave it up to the property owner.They might not confirm the fax went through to the bank,they might submit tot he wrong department,they might be using an old dirty fax machine where the transmission was garbled and the bank cannot read it etc.Make sure they sign the release EXACTLY as they signed the closing papers when they bought.I have had instances where unless the signature is exact as what they have on file for closing docs they will not release info.If someone married or they sold to someone else etc. you can explain that away it's just more steps.

Just make sure your contractor bills break these pieces out to substantiate the cost.A CPA that writes in the blog section said recently that kitchen cabinets were depreciable as 5-yr property.http://www.biggerpockets.com/blogs/2024/blog_posts/20803-tax-saving-tips-for-reiI hadn't heard that before and asked her to confirm, but no response from her yet.

Buyer is pre-approved for well over 140K from the bank because he has excellent credit, good income, with 6+ months reserves, <45 DTI, but does not have the 28K to get the deal done.Is there a creative way for me to sell this thing to my buyer with him not having to come to the table with the 20%?

After confirming that there were no major structural issues I proceeded with the deal.

If I establish income upon returning, could I get credit before 2 years provided I buy points and have some reserves?

The preliminary title search or report must also confirm that there are no liens on the subject property.o The source of funds for the purchase transaction must be documented (bank statements, personal loan documents, HELOC on another property).o If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property), the HUD-1 for the refinance transaction must reflect that all cash-out proceeds be used to pay down, if applicable, the loan (unsecured or secured by an asset other than the subject property) used to purchase the property.

I just spoke to a mortgage lender today and he did confirm they are doing the refi's for investment properties.

After I get a verbal acceptance of my offer (and verbal confirmation from the seller that there are no mortgages or judgments against the property) I usually do my own title search to make sure.

But no guarantees on what they'll do.Since you already have 4 financed properties of the 1-4 unit type, the underwriting process becomes more restrictive regarding LTV, cash reserves, and credit really needs to have no blemishes.