Look at the Pawn shop industry… same thing.

I'm currently shopping around for my first mortgage.

That's a VERY smart first step. :)Liz

That is also the best way to rate shop: have everyone hold rate constant and tell you cost or credit for the rate of your choice.

Hi Grant,1) Regarding the ARV, look at properties comparable to yours (GLA, age, br/ba, lot, location) after they have been remodeled or" flipped"2) Running numbers on multiple potential deals, you will learn quickly what is a good deal and what's not.3) I would think so, so shop around.4)  I would call title companies in your marketplace.I hope that helps!

(By mentoring, I don't mean holding my hand; I have done a lot of research and am fairly smart (or so I like to think 😀) but you obviously can't learn everything from books and research.)

I have clients that own 1 to 5 vacation rentals here on Mau i and once you hit that threshold of 5 you may be put into a commercial status (5+ units), so qualifying can be a bit more difficult, looking at such things as:What has that person owned and what has been their management experience collecting rent and managing propertiesThe borrower's credit score, income and personal and business tax returns will be considered along with two years' operating statements and a current rent roll for the property.Also important are property metrics, such as: Net operating income: The annual income, minus expenses that a property generates from its operationsDebt service coverage: Measure of cash flow relative to debt payment obligationsLoan-to-value (LTV) ratio: A measure of the loan amount relative to the value of the propertyThe property has to service its debt at a comfortable marginOf course each lender can be a bit different, so it's good to shop around if needed.I hope that helps.BTW - what do you consider big money?  

Shop around.

A smart lender appreciates a smart buyer - but not a waffler.

If I could increase rent by $50 each then I would only spend a total of $10k among all 3 units which is possible - shop around and don't over improve!