Were based on dubious and unproven speculation, assumptions and best case scenarios2.

I think both of your strategies have merit, but here’s my take based on what you’ve laid out.Moving to a rent-stabilized apartment and renting out your condo as a mid-term rental could be a smart pivot, especially with its location near a hospital and LGA.

I'm also based in California.

Hi Erica, what I've notice is that high-quality (high-priced) washer and dryers don't out perform other based price models in rentals. 

Based on the numbers seems like it was a straight forward conventional loan...any challenges?

By reducing the principal balance, your lender recalculates your monthly payment based on the new, lower balance.How Does Mortgage Recasting Work?

Forgot one detail the new California based lender committed to funding as long as the property isn't in an evacuation warning area.

In my experience, these are also referred to as "QM" and "Non-QM" loans ("QM" = Qualifying Mortgage)And as consumer mortgages, these loans are generally issued under the person's name with the underwriting based primarily on the borrower's DTI (Debt to Income) ratio.

Bigger Pockets is a great place to learn and connect with fellow investors.I’m an investor based out of Columbus, OH.

It is DSCR based and no personal tax returns are required to qualify.