We manage several there that get a great rent rate.

This would be very much like a borrower having the property rented at break even.So in short, a LO simply saying "he wouldn't finance" without running full credit and verifying income would be short sighted, in my opinion.July 3, 2022To Whom It May Concern,On November 14th, 2018 one of our holding LLCs, [LLC Name Redacted], entered into an agreement for sale on the property at [Address Redacted].

Lots of variables to take into account here:- credit, ltv, DSCR score (based of rent / anticipated PTIT(A), experienceAre you looking for a purchase or refi transaction? 

Also the rents are below market with Unit 1 coming up end of Sep. so could go from 850 to 1100. 

@Steven Belter I met with another WI investor who has purchased raw land in Belize that he is thinking about building a high end home as a primary home that he would also rent out. 

negative cash flow due to HOA and rent going down.

If they keep dragging this out, it will completely kill my chance of Sept (probably alread has) and Oct rent.

We have bought several MF properties where we are doing extensive rehabs and re-renting at higher rates, and I have talked to other contractors about potentially partnering at cost for equity. 

Rent out your current unit.

Assuming the property is appraised at $650,000.00 I am hoping the equity will get my LVT to 75% eliminating the PMI, adding to the potential cash flow when I go to rent and then putting that cash flow + personal savings away to raise capital to buy another piece of property.I realize that in order to buy my next piece of property I will want to put down 20% to avoid PMI and a high mortgage but saving 20% for a piece of property in my area is going to take some time due to the high price ranges $500,000-$700,000.