Hi all,I purchased a two-unit home a few years ago as my primary residence with a conventional loan, and was told by an accountant that there is no reporting or extra tax forms I need to file as long as my tenant in the upstairs unit is paying less than the total of my mortgage.

We'd be paying for the property in cash but need approx. $150-200k to rehab the home.What is the best way to secure the loan?

You’re gonna pay a premium up there for that.

You can pay $99/mo to get 10000 leads from Propstream.

Also, the opportunity cost of leaving the property vacant for a year while paying a mortgage on it and not receiving rental income is much higher than what the marginal difference in rate will cost you until you cashout refi it.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

You'll have to pay tax in the US as well.

I am getting this loan at 5% int and paying down principal and interest on each payment.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Expect to pay north of 8.5% on the rate and to be capped at 70 or 75% CLTV.