Worse case, if you do the rent decrease, is that you have a non-cash flowing property/rentals below market rent as well as you have tenants who expect their rent to be lowered at every inconvience.

One-time, non-refundable, and Re-Key Fee $125.

Maybe  DSCR 2nd if both the 1st and 2nd mortgages meet the debt service requirements. 

@Ryan RuncheyThe bookkeeping for this specific property will likely be difficult.This appears to be a househack as you purchased a personal residence but also have roommates to help with the rent.As a result, a portion of the expenses as they relate to the house are personal in nature and non-deductible.Items such as real estate taxes, mortgage interest, etc are all pro-rated.On-top of that you are doing the BRRRR which indicates that there is rehab involved.Portions of a rehab are currently deductible, capitalized or non-deductibleCurrently deductible - payment for an area of the home that is a tenant area.

If you can rent them, then they are a huge money maker.I don't recall what we paid for it, but let's say $10,000 and I use it 75% for biz.So depreciation is $7500 (assume 30% tax bracket, tax reduction $2625) That is a cash inThen rental say about 75 days @ $250/day = $18750Less costs (gas, repairs, service, insurance etc, which will also be a deduction from revenues) = $5,000So Yr1 you are at $16,375 and your machine is all paid for and then some.I don't have a garage so it is parked on the side of the property.

And they are often LESS expensive because they are non-licensed architects.

I would start out with friends and family to get the ball rolling and then ask them to refer you any investors they think would be interested in your service.

Some basic things to look for- Does the service only offer up to a certain number of phone numbers or email addresses like 3 or 5 of each.  

BTW, you must get a phila tax ID first, then a commercial activity license, and finally a rental license.Hope this helpshttps://www.phila.gov/services/permits-violations-licenses/g...https://www.phila.gov/services/permits-violations-licenses/g...https://www.phila.gov/services/payments-assistance-taxes/tax... 

Naca services folks who could never qualify for any loan OTHER than a Naca loan.