By making extra payments or paying more than the required amount, the borrower can accelerate the repayment schedule and potentially save on interest costs over the life of the loan.

Just want to be careful on which broker/lender you use because some of them have a prepayment requirement and try to stick you with a 3-5 year prepay.There is also a 40 year I/O interest only but its only fixed for the first (10) years.Make sure you know how many months reserves they require before you get to deep into paying for the appraisal and then find out the deal is cancelled in underwriting.

From a tax planning perspective, you are only allowed to start writing off the home once it is placed into service (once the lease starts).You are also only allowed to write off the depreciation, and any other costs or losses against the earnings from the property.That is, unless they get the real estate professional status, which requires 750 hours a year working in real estate.

If you choose to go down the lease option route be sure to hire an attorney that understand the very specific requirements need to be followed.Several years ago, Texas revised its lease option laws in response to widespread misuse by landlords who collected substantial option fees from tenants unlikely to afford the purchase, only to evict them shortly thereafter.

As long as you meet the seasoning requirements you should be able to qualify for a mortgage based on the As Is value.  

There are some requirements with my account on the ability to withdraw regarding how much you can withdraw at once and how frequently you can withdraw.

STR's require a lot more work though - its definitely not passive.

Guess probably 550,000 for a tear down and new build depending on what's required and maybe a year of down time.  

However, I encountered a hurdle in the form of a scope of work requirement.

Many lenders typically require a minimum loan amount of $75,000, allowing you to access up to 75-80% of the property's value, provided that the DSCR ratios meet the lender's requirements.