But based on my experience with upper management, there will be no future loans with The Mortgage Shop.

And with some of us, there is no seasoning. 

Our lease doesn't say anything about re-measurement and therefore there is no window.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I used a real world example, as the building closed last week and already had tenants; which they are month-to-month, and raised 4% effective April 1st (NJ is a guaranteed renewal State).There are no CapEx expenses at this time. 

No lender will lend on a deal that doesn’t make sense.4) After the appraisal comes back you will get a document that outlines the amount to be borrowed and all fees that will be relating to the loan (I would suggest to ask for an example of this document when you are searching for an HML so you will know what fees are going to show up).5) Close the loan at a title company of your choice.6) Begin work and make draws on any repair balance.

By no means cheap but solid rent + demand, fun place to live, decent inventory (relatively speaking), and is still commutable to the city. 

The win for you is having a lender that will fund your deal and if you analyzed it well, you have the opportunity to make a profit with little to no money out of pocket and the chance to build a great relationship together.

And no I’m not talking about the “burbs.”It is just something that I have found that has helped make my properties easy to rent - and I thought I would share.

With this being our first property though, would a business bank account just be more of a hassle since we want a joint account with no fees?