-Purchase price = 88,500-Amount currently owed = 70,340-ARV =$145,000 (NOTE - we have not gotten a formal appraisal, basing this off comps in the area)-Lease= Signed 12m lease at $1125-Current Monthly Mortgage = $617-Credit score = 792-City = Greer SC

Join local meetups, read books, listen to podcasts, find a mentor once you have a base level of knowledge.

I’m based outside Houston, I bring over 14 years of managerial experience in chemical manufacturing to the table.

Hello Faiz,If the property is paid off and it is rented out, I might recommend a DSCR loan as it is based off of the asset itself and most DSCR lenders do not need W2/Tax Returns.

This was based on our continuing commercial relationship with this institution.  

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

The colossal failure of their iBuyer program a few years ago showed the world the dangers that exist when the flaws of algorithm-based estimates are overlooked.

What you have to remember about Awning and other estimate sites is that they are pulling averages based on a specific criteria, whereas they cannot differentiate the decor, neighborhood, distance to various attractions etc.

If the revenue for the short term is as much as the long term due to the STR restrictions, maybe the STR strategy wins based on that.

Based on that definition, the answer will always be "yes".