Based on what you're telling me, I'd also advise you to begin the process of evicting/non-renewing the lease.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

Based on the numbers seems like it was a straight forward conventional loan...any challenges?

In addition, education can only teach you so much - what type of experience-based learning do you receive when joining these teams? 

By reducing the principal balance, your lender recalculates your monthly payment based on the new, lower balance.How Does Mortgage Recasting Work?

I would need to consult tax consultant for this however I expect to reduce my effective costs by ~$1,495/month (based on a 32% tax bracket).2.

Hey @Benjamin Jones -  Fellow Japan-based investor here.  

I'm looking to purchase my first rental property and have been searching for a deal that would generate positive cash flow based on my projections.

I was trying to appeal to the next generation with more app-based management rather than phone calls and emails.  

These forums are a great place to learn and connect with fellow investors.I’m an investor based out of Columbus, OH.