Thanks for your help For an owner-occupied duplex, you’ll typically need a hybrid policy.

It's frustrating to finally have it all sorted out then get a notice that the mortgage has been sold again and there is a new servicing company taking over and the mess starts all over.

Add to that the fact that private financing typically involves way less bureaucracy, with reduced paperwork and fewer hoops to jump through.

The sales comparison approach is typically done for residential real estate and will be less appropriate and come in under value because there are no good comps, and even an appraisal using the income approach (unless the appraiser is trained to do more complex commercial appraisals) is probably not going to be the most accurate either because they typically use market cap rates and in this case you don’t have good comparable income properties to find the market cap for the analysis.  

That's all the 1% rule does, is help you sort out what MIGHT be a deal with analyzing and ignoring the rest.

- Design language (this has differentiated my home in Massachusetts though tastes differ and not all markets are as high earning as Mass)- Do you typically work with the same contractors, electricians, etc or have a network?

I think there’s some sort of option of to do a little refi on both house 1 and 2 and get the money needed to wipe out the line of credit(allowing for bigger flip opportunities, especially if I partner up with someone) and also renovating that garage space with the private investor as long as it is under 1000/month.

-- sort of depends where you live and if you want to invest out of state / have the ability to manage a team remotely, the best out of state investors are very active in managing their teams.

Another benefit: three friends renting together typically need their own policies.

I have $25K cash for a down payment and can add $20K/year ($1,600/month) toward payments.No W2s, I've looked into building a small home right away and using a bank statements loan (have about 8800. monthly income) , but with 9%+ interest rates, it’s beyond my budget.Is there any sort of creative financing ideas possible or private lender possibilities?