New Provo Temple just opened DT Provohttp://fox13now.com/2016/01/04/reservations-for-provo-city-center-temple-open-house-available-now/4. 65k-70k college students within 3 miles of DT Provo (BYU, UVU)http://www.ksl.com/?

Option 3: pay off 20k take 32k from refi and empty out our cash reserves to buy home.

In the event that the 16.5% means you have insufficient PITI reserves that the lender will require, you will be forced to use a hard money lender at 10%+ and now your cash flow situation will be all jacked up.

Thank you, I have since confirmed with him and he has confirmed its just an ADU that cannot be sold separately.

Hi Noah,Sometimes in order to be able to bid on foreclosure you need proof of 5-10K cash reserves, not sure where you are looking to buy foreclosures through.I would highly recommend buying a multi family and living in one of the units to those who are just starting out.

We've found that HUD estimates tend to be low for repairs especially when considering what kind of quality you really want in the property.You need to factor in any potential CAPEX, maintenance, common area utilities, water & potential reserves (Reserves are really there to cover CAPEX items)

Hey @Kevin Lefeuvre I still use Google Calendar as my master calendar to capturing all of the confirmed reservations. 

But you would have very little cash reserve if anything goes wrong.Most people would say at least $100 up to $200, net positive cash flow per unit, per month.Personally I would be very scared at $100 per unit.

I am also in MN, and am in close contact with my RE attorney regularly, and I have never heard of Series LLC's.... can we confirm they aren't recognized in MN?

My credit is good, but I just sunk a lot of cash into my current project and I don't have the reserves I now require.