Hello Rick, I've only come across 1 company to do 2nd position DSCR Loans, here is his contact info.Erik EstradaLuxePrivate Investments LLC Loan Originator, OwnerDRE 02161719 | NMLS 2289340Direct: 818.269.7983W:https://luxeprivateinvestmentsllc.com/Schedule: https://calendly.com/erik-dra

This is the most complicated piece because you are essentially the mortgage originator (which might run into licensing concerns depending on how many times you do this and your state), and you need to make sure the person who is buying is a good borrower.3) close with a title company or lawyer (state dependent) who knows how to deal with this type of transaction4) set up an account with a servicer to collect the money from the borrower (not required, but highly recommended from note buyers)5) collect payments

Our max purchase+max rehab amount we want to keep under $150k to start out with.

I am just getting started managing 7 units.

My family and I just recently took a short vacation to Wilmington and the house we stayed in really lit a fire in me about getting started because it was so ideally situated. 

I will post the before and after pictures, hopefully it can help anyone starting this journey, we are new investing out of state but NOT new to handlining construction project out of state for clients, looking forward to the challenge!!!!

I made that mistake a lot in the beginning - yes putting in new cabinets will be great but it won't impact value much in some of the neighborhoods I'm investing in, for example.If you're local to the area, I think this is a great way to start in the REI world!

Dillian,First off congrats on your journey into real estate, and no better way to get started than a house hack.

There doesn't seem to be enough information to support that.If you purchase a property but then spend 4 months rehabbing it before its first occupancy, your depreciation starts from the date it's placed in service (first occupied) not the purchase date.

I use AirDNA as a starting point then check that number against what units are doing on the booking sites (Airbnb/VRBO).