Instead, consider a HELOC or home equity loan to fund repairs, as the interest may be deductible if used for home improvements.This post does not create a CPA-Client relationship.

I'm a Realtor with a couple properties listed in Boise, ID and a neighboring town for my investor/client that are currently rented as co-living or rent-by-the-room and getting killer income. (7.3% - 9.5% Cap rate) So far, every inquiry has been baffled by the concept of co-living or rent-by-the-room and immediately ask if they're being run as a halfway-house (which they are not).

I began shopping for a large construction loan to build a new car wash on the land. 

Once the rehab was done I refinanced out of the private loan into a conventional loan as a primary residence.

If my spouse wasn’t opposed to moving I would try to buy a new house hack every 12-15 months and use low down payment owner occupied loans for as long as it made sense.

started the interest rate at 8.5% and wrote in the contract that their interest rate will change anytime my bank loan's changes (every 5 years) and will always remain 2.5 interest points above...for what it's worth...i have another under contract that hopefully will close soon..i'd be interested in hearing about this wally wrap as well bryan...what was that?

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

Quote from @Jarrod Ochsenbein: I purchased an existing Padsplit with a DSCR loan. 

That first deal after a break can feel like a big leap, but it sounds like a great opportunity.On financing, seller financing, private lenders, or portfolio loans from local banks could be worth exploring if you want alternatives to hard money.Excited to see how this deal goes for you.

Unlike a mortgage the interest on your loan will not be tax deductible.