Best, Justin  Hey Justin, If you need to use the Short Term Rental Income to qualify, DSCR lenders will need to verify the property has been booked as an STR for the past 12 months or if you have other STR properties owned and operated in the past 12 months.

I'm confident about the payoff amount as I've been watching this for a month, but only recently came up with the funds.

The bank sold it at sheriff sale 6 months later for $61k.

DetailsPurchase price: 1.1MReturn (IRR):11.86% per yearCapitalization Rate:5.45%Total Profit when Sold: $1.16MHolding period: 20 years5% down (so that I can take maximum leverage)mortgage rate: 6.7% 30-year fixedVacancy: 5%Management Fee: 8% --> I used this only for calculation but as I will be staying there, I plan to self-manage it.Cash flow: negative $1500 --> My primary job pays decently and I can manage this and have 12 months of reserves.

I am new to the system and would like to connect with someone that has successfully used the "Affordable" module to manage tenant move-ins and move-outs, annual recertifications, and monthly housing assistance payment requests.Thank you,Moises

Being this is almost August 2024, you got 4 months to do make $200K.

@Anthony Jacques You can get two loans at the same time however they will probably be spread out by 6 months.

We actually just sold two properties up in Ashland City in the last month, so it is growing for sure.

@Ko KashiwagiHi Ko,I hope to answer the question you are asking.I did qualify for the Triplex solely based on my W-2 which has since gone up a bit.Because I live in it, but the other 2 units are tented, I was able to depreciate 2/3 of all CapEx and OpEx (units are equal in size).The rental income covers about 81% of my monthly mortgage payment.One lender has told me, they need a 2-year rental income history on my taxes.

With high HOA fees ($2k month) I am still cashflowing nicely.