This provided a substantial return on the initial investment and freed up capital for future projects.Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender•Appraised Value: $160,700•Monthly Rent: $2,150•Cash-Out Refinance: $3,200 after paying off private lender and myself•Rate and Term Refinance: 30 yr amortization, 7.25% interest, 70% LTV•DSCR: 1.45%Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)With a 40% expense ratio, the DSCR is approximately 1.45.

Eliminate debt, establish a budget, and save.

The seller will also have to sign documents that are required and it will hold them liable for debts since they are on title.Best way to set that up is run the numbers and create a partnership based on the equity of the land and your cash injection and sweat equity.

But more importantly, it’s about building something bigger than myself—a system that empowers the community and leaves a legacy of impact.This project isn’t just about restoring a historic site or running a program—it’s about creating a vehicle for change that allows others to succeed.

Solo 401(k)s are not subject to UDFI (Unrelated Debt-Financed Income) on the capital gains from selling a debt-financed property, per IRS rules.b.

You can do an 80% LTV cash out refinance, but it will depend on the state and if the property can debt service at the higher LTV 

Like maybe I could pull enough out from heloc on primary residence to pay off debt and then rent out my primary and use the extra cash to payoff heloc and then do another heloc once the original one is paid off.

Eliminate debt, establish a budget, and save.

They switched to a PM company I recommended, and within two months, they’d evicted the tenant, restored the unit, and leased it to a far more reliable renter.

I thought I could just have a title company do some research and provide me with information about her property (Liens, unpaid debts etc.).