My wife and I are getting ready to pull the trigger on our first STR here in Phoenix area.

Here is a hypothetical scenario for the borrower:Assuming the loan is against a 2-3 family rental bought with cash.New investor, first investment propertyOwned by an LLC (single member)Want to pull cash out for another deal.The single member would qualify for a conventional loan (good credit, low debt to income etc.)

Then ride the appreciation train to give you equity to pull out and invest with cash elsewhere. 

The HOA doesn't pull money out of thin air.

I am getting ready to pull the trigger on a rental and was wondering if I could go for a couple months with out one (3) or should I have one in place from the onset...the property has a stable tenant in place, I do have lawn care and a HVAC person.

Once you know your way around, you should feel a lot more confident pulling the trigger on an investment. 

Then put property management in place and keep it as a rental.Then take the cash you pulled out from the property and use it as a down payment on a house hack.

Just be sure of the numbers before you pull the trigger and do exactly what your doing and find someone with experience with meth to help.

I see where I went wrong while pulling numbers from the listing.Would you mind expanding a little bit on the loft conversion part of your post?

She is not on the mortgage and her credit was never pulled with mine we got married 4 months after I purchased my property with fha.