If you come across an identical property to your subject that sold 12 months prior, it might make a better comp than less similar properties that sold 3 month prior - just make sure you adjust the price properly to account for general market increases for your area during that time.

First, I do not want someone (an adult) to be able to claim residency rights if I do not have that person's information and have run credit, background and employment / income verification on them.

So that due diligence is about that verification--leaving no stones un-turned.

There is considerable time in managing a rental property when you consider showings, background verifications, maintenance and evictions.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

. - - They also don't require tax returns, income verification, or extensive bank statements. --- ---- Moreover, credit checks are typically "soft" pulls for such short-term loans.- The average closing timeframe is around 14 business days.Refinancing Considerations:- If you intend to transition the property into a rental, be mindful of the seasoning -requirements for cashing out, especially if you’re switching from a construction loan to a traditional one.- Some lenders offer a DSCR loan right after rehab completion, while others might stipulate a 3-6 month seasoning period before allowing cash out.

We don't do any income verification or tax verification, so your DTI being on the cusp would be an issue.

A single family home is nearly identical in price point into the Ohio market as well!

They will take a verification of mortgage from a licensed servicer or property management company, but not from an individual.

This eliminates the need to turn in those paystubs and the need for employment verification.