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Recently I've seen a massive increase of homeowners rolling up their sleeves and taking on DIY projects either on their primary homes or on their rental properties.

Since this is an FHA Streamline, there is no appraisal, no income verification, no employment verification, no out-of-pocket costs, and nothing rolled into the new loan.

Or...you could talk to an attorney and start your own C Corp (for investing in real estate) and then roll over your 401k via a ROBS (roll over for business something).  

Since this is an FHA Streamline, there is no appraisal, no income verification, no employment verification, no out-of-pocket costs, and nothing rolled into the new loan.

So as a % of total asset costs roofs, turnovers, etc... are a much higher % cost than on a more expensive higher rent roll property. 

The most important first steps are reviewing the lease documents and rent rolls.

In my experience land lords who have that length of tenant and they can show rent rolls of payments on time are ok with sub market rents because the tenant is so "easy".

It would eat up costs, but you can roll cost into the loan so you don't come out of pockets and there's no guarantee rates will come down quickly for sure.It's also worth getting a CMA on the value to see if you could refinance so that you can avoid the PMI.

The building is effectively 50% commercial and 50% residential (both in SF as well as projected rent roll).