@Jacqueline Wright i have pre qualified for 280k but I don't want to go above 209k

Qualified Landlord reason for termination.3.

Cons- depending on your personal financials, qualifying might be more challenging and the loan might not amortize over 30-years.Another alternative would be a business-purpose rehab loan (fix and flip/fix to rent).

If building wealth quickly is the priority, starting with an investment property or house hacking could be a smart move since it generates income and helps you qualify for future investments.

To me, any liquidity qualifies: bank letters, bank statements, stocks in an investment account that covers down payment, etc.Today, I got a letter from a hard money lender saying the buyer is approved for 1/2 the listing price of the property.

If they have passive losses from the STR, they might be able to offset some of that W-2 income through the passive loss allowance or by qualifying as a real estate professional.

Typically, this is also refundable should you not get qualified for a loan.

The seller will have reduced debt capacity because the existing note is still calculated as a debt - they MAY be able to include an offset equal to the buyer payments after a period of time, BUT often the seller is surprised to find they can not qualify to purchase another property3.

If all you do is own rentals for example, likely not qualified with a Solo 401(k).

I chatted with a lender about the DSCR loans and he said that Padsplit (room shares) would not technically qualify for DSCR although if it’s vacant at the time of closing, it should be fine.