The way I got around it was I had capital that I could use to payoff the load and then the bank issued a new loan for the BRRRR amount, which I then got my capital back plus the additional capital based on new ARV.  

On a long-listed property not only can this work but the agent/broker may agree to contribute (or discount) some commission to make it work.

Alternatively, DSCR ratios may not work out due to efforts to maximize the loan amount and avoid additional cash contributions. 

It would convert the existing structure from a 2 bed 1 bath, to a 4 bed 2.5 bath, adding an additional 2000 square feet of space.  

Pulling Equity will affect CF in the short term, but may allow you to leverage into additional units adding cash flow & equity over time.

I had just received a 30k down payment from another owner financed deal and I wanted to get a “second home” and get some additional rental income.

Over the past six months, numerous people talked and fantasized about all of the discounted deals that they planned to scoop up in multifamily.

Assuming I could qualify financially (primary income plus FHA allowed rental income contribution from additional leased units), when I become the owner of the property, would that prevent me from using a FHA 203b to house hack a second property?

(People often forget they’re getting a property tax discount for their primary so they forget that crime of telling the state it’s their primary home when it’s not.

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