The credit committee is usually made up of local people who are familiar with the market they are in.

The biggest factor to consider is the new interest rate since it’ll likely be higher than your current 3.2%.

When I see a 500k property that can gross 100k in rents, I have to believe that thing is going to make a boatload of cash. 

I want to get there too!

As apples to an IRA Hope that makes sense .

They said for me to come back in 3 months, because I had only owned the property for 9 months.

I too am confused by the “It won’t look consistent to the tenant or to the accountant.”

If the covenant specifically prohibits renting out rooms or STRs, you may be restricted from doing so.You should carefully review the covenants tied to your property to understand the specific restrictions.

-Rehab funds are usually held in escrow, which will require you to request draws. 2.

I thought we were supposed to have rates that were more favorable?