Fixing one does not affect the other. 

We fought for this for several reasons: 1. tourism is our main economy 2. there are an incredible amount of dilapidated homes that could be renovated and made beautiful if the investment return justified it (which STR in a beach town could) and 3.this is a family-friendly, lower-cost and now COVID friendly way to travel. 

Of course, sometimes it's difficult to sell a house this way if you have alot of equity since the buyer will have to come to the closing table with that amount of money before assuming the loan.   

Also if approved would the assistance help for the entire rental amount ?

@Kara CourtneyFunding under $50k loan amounts gets difficult.

@River Sava I did some fix and flips, multi-family (2-4 units) investing.

., DSCR, fix and flips, bridge loans).

My wife and I fixed it up doing most of the work ourselves.

Hi Melanie, depends on 10 yr note, could continue to go up slowly for next 30-40 yrs as it has done between 45-82 or 1890-1920, or down for 30+ yrs like 1920-1945 or 1982 until 4 yrs ago, if they have 25% down and long term fixed rate debt ( just got a 10 yr loan at 6.95%) and Cap rate >150 Bp above debt rate, they should do fine-assuming good local market, even if value drops 20% short term, it will recover longer term and should be ok.

I don't know how many times I've seen accountants/bookkeepers mess up the setup for QBO and it is very hard to switch it to the correct way due to the amount of data.