Airbnb and Vrbo were straightforward, but I want to learn the MTR side.Thank you.Use Airbnb and VRBO for your MTR client sourcing as well.

If phone calls and emails are not working, get a hold of his broker and set up a meeting for all involved.

The easiest way to think of the draws is like a reimbursement where after you complete work on the property, the lender sends out an inspector to confirm that work has been completed then gives you funds according to what has been done.You should be using a lender for the purchase as well since purchase and rehabs offer the highest % of purchase price.

Multifamily (2-4 units) properties often times require additional down payment (Fannie/Freddie require 25% down), but there are a few DSCR lenders that will allow 15% down on 2-4 unit properties as well.

@Clare CuiWe look at all the factors for a bankruptcy when reviewing a tenant application. 620 means they have definitely done well since then- but the question is also why did they file bankruptcy?

Any tips or things you wish you’d known beforehand?

A little about me:  I love camping (well, Glamping if I'm being honest - we camp in a Northern Lite RV), mountain biking (which I'm not very good at but I love the challenge), and Star Trek in all it's various iterations. 

I like that I can quickly set up bank accounts for each property and sub-accounts under those so I can keep my property finances in "buckets" as I like to think of it.

I know the interest they get is taxable I would probably have to set up a LLC with them being equal partners.

So far, I have one lender with whom the HELOC convo was actually going well until the matter of the house being owned by a business came up; then she redirected me a commercial loan (which may be what happens).