If you do ask, and have enough time, lenders are required by federal rule to decision a loan mod within 30 days of submission of a substantially or materially complete loan mod package.Unless he can appeal to them to delay, sounds like it might be a little late for a modification as an option.

These include loan payments, tax, insurance, utilities, etc ... incurred during the Rehab phase up until the property is fully rented.Jim you will find Cash Flow amounts are usually lower using the BRRRR strategy compared with normal Buy and Hold deals.  

(House-A)I want to buy another (House-B), and then sell House-A.My lender has pre-approved me or a mortgage for another house (House-B), without requiring me to sell my current house, (House-A)I want to do a BRRR and buy House-B with hard money , renovate and then utilize the mortgage to lower the interest rate and pull out most of the initial investment.If I borrow from the hard money lender, will that reduce my borrowing power for the new mortgage?

But you will need to have money to make the interest payments each month, pay  Utilities and such.

Utilizing a HELOC is often a good idea so long as you purchase a cash producing asset that has returns higher than the cost of the HELOC interest.

Hi @Tim Kunz, when I pay utilities for my tenants and then bill them back, I told my PM to always send them a copy of the bill so they know why I am billing them X or Y.

This is another good option if I intend to utilize my 401k plan for investment.

He bought a new house around 1995 and allowed one of his sons to live in it for several years, paying only to cover the mortgage.Subsequent to his son purchasing his own home approximately 2 years ago, the house has been mostly empty except for a few months when a family friend stayed in it and only paid to barely cover utilities.

Well our first couple weeks have quite interesting ...but our focus has been on the exterior siding, getting a part time manager, and getting utilities transferred.

I am looking to hire a crew of guys to paint a house I bought and one of the contractors offered to for me to pay time and materials.