I don't care who teaches this stuff its fraught with danger to think you can take title and keep someone's mortgage in place for years and years stuff happens and when it does the original seller gets HAMMERED.

There are mortgage recast calculators online or you can reach out to your lender.P+I payment will go from 2155 to ~1800 given the numbers you provided.

A trip to Detroit would be much cheaper than a mistake for a new investor

I'm trying to get a mortgage, but it's entirely possible that the mortgage might not cover 100% of the price of the house.

BRRRR is not a great strategy in the current market due to the mortgage rates so it's not as applicable as many think from reading older posts or books about how easy it is.

However if you had done a warranty deed (or a special warranty deed if you still have a mortgage on it) instead, your LLC has a claim against you for the issue on the title, and you in turn can go back to your initial title insurance to fix it.Some title insurance will allow to transfer the coverage to an LLC that you own 100%, but not all of them do or they may require an additional fee.

What I mean is, some investors look strictly at cash on cash return, some look at cap rate, others just want to make sure their mortgage is covered.

God forbid something happens and I either can't get rid of a tenant or can't find one, I would barely even be able to afford the mortgage

My name is still the only name on the mortgage and title.

Forewarning: This is going to be long and detailed.How this started:When we were young, we would buy a house that was livable, but in need of rehabbing, move into it (which allowed us to get a low interest residential mortgage), then rehab it, using contractors for what we couldn’t do ourselves.