With a turnkey, you have almost no exit strategy short term that won't cause you to take a loss on the property.

I can't remember what weight was needed but I ultimately found it on Amazon.

Splitting profits and losses 50/50.

You didn't mention the deductible or what level of Liability coverage was quoted nor if you added on coverage for Loss of Rent, Sewer & Drain backup, or Landlord Personal Property.

Hi All,The situation is this, I have done some digging already and found that the note debtor that I'm in contact with has more assets than they are disclosing when asked to produce profit and loss, w2, tax filing etc.  

You need to see a Profit & Loss statement from his bookkeeper's accounting software or you'll have to build it yourself.

I would think i'll be able to qualify for a cash out refinance , but I think going forward if what she said holds true, If i get to 3+ properties my job income alone will not support a loan via the 40% rule...What i'm hoping is that some lenders will give weight to the lease agreements..

You can use losses from depreciation to counteract other other real estate gains across your portfolio.Would your house make 20%+ more money if you rented it room by room on 6-12 month leases?

It has Been 2 weeks since I talked to a Lender at a local Bank , and checked in with him yesterday , and he told me that the HELOC has not yet been decided upon Just curious if this is the average weight time, to hear a yes or no , on whether you're approved for a HELOC ?

They are backing out on a legally binding contract, causing damage to your business, and it's reasonable for you to recoup a portion of the loss.