It’s a popular way for new investors to dip their toes into real estate because it allows you to generate rental income while reducing or even eliminating your monthly mortgage payment.While house hacking can be done with single-family homes (by renting out rooms), multifamily properties, such as duplexes, triplexes, and fourplexes, take the concept to the next level.

The terms like the 70% loan-to-value (LTV) ratio and 3% origination fee you were quoted are standard but can vary depending on the lender.

We removed a few walls and made it an open concept home.

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They sponsor biweekly webinars, where they encourage Q&A on many topics in the Fix & Flip landscape.The draw process seems standard (what you would expect) and makes sense.

We often take over "turnkeys" and find them a bit of a mess.That's why we started doing BRRR Turnkeys for our clients where they buy a fixer-upper and we renovate to THEIR standards, find a tenant and manage for them.

Wall removal is better for sale usually for open concept, and sometimes for rentals, but if you want more occupancy (potential rent by room) removing walls restricts that.

People talk about it like it's standard and easy to do but you do not want to find out after you've sold the other property that it isn't possible so just proceed with caution.

So in your case thats standard or frankly a bit better than those that force equity and have money.. the idea though of selling these to those that dont have the 50k in cash or ability to get it is what puts these neighborhoods at risk and to ask and investor to step in and buy the asset and then resell it for 3X that investor is taking a huge risk ..

You at the bare minimum need to have all the standard amenities, and going above and beyond trying for unique usually pays off as well.