And to add to the stress, we took out a loan to cover the costs, and now we're watching our hard-earned cash disappear with each passing day.In this moment of desperation, I reach out to this community for assistance. 

You need enough time to earn healthy returns, but not so much that your kids graduate before the sale.Considering market cycles, five years is a modest stint in which to invest, make improvements, allow appreciation, and exit before it’s time to remodel again.A five-year projected hold provides a buffer between the estimated sale and the typical seven- to ten-year commercial loan term.

But by only reducing $120 monthly, I would be adding about 150 months to the loan term.A 6.5% would only make a small increase of lowering payment by $220.

To get helpful advice and support, connect with lenders, contractors, property managers, investors, real estate agents, and other experts.Options for financing include private loans, partnerships, FHA, VA, and conventional mortgages.

Keep in mind if you need to use two jobs to qualify for a conventional loan, the borrower will need to demonstrate two years of holding those two jobs simultaneously. 

@Oliver Martinez you could have used the "@name" format to include everyone you wanted to reach out to on a single response, instead of entering 6 copies of the same message:)Unless you plan to live in the property (owner-occupied) you will typically need at least 20-25% down to get a mortgage - unless you find a private investor to fund your acquisition.Also, as you've found, most of these lenders have minimum loan amounts of $75k-$100k.Unless you are a VERY experienced investor, we don't recommend buying rentals in the City of Detroit under $80k.

The challenging part is finding an investment that has enough spread to account for all of the labor.

Unfortunately, Prosper is refusing to cover without remedying the situation (at least a $1k in materials plus labor).I always want to fix any problems within my rental if they arise, but I don't want to replace something that is perfectly safe just to fit a policy.

I’m using my VA loan to help finance my next deal and once I sell the home I live in now I’ll have a good amount of capital to rehab the next property If I wanted to along with my W-2 job.

I plan on using DSCR loan and have a pre-approval.