So I would rapidly try to pay it down to get that LTV to a point where you can refinance it, then move out and rent it out.2) If you will be there long term, then save rapidly for the next one and let your money and savings snowball.Remember to celebrate the little victories and the harder you work now, the better it will pay off later.

Hi All,My wife and I live in Denver but are looking to move to Grand Rapids in about 2 years.

I think their response to your request for a security deposit will speak volumes as to how they are as a tenant.I would definitely get a security deposit and as a courtesy, incrementally increase their rent over time (you decide an appropriate pace) until it reaches what you think is fair market rent based on the unit's condition.  

I am trying to find this out for one of my Grand Rapids units.  

For our 2BR/1BA units, the most we've raised rent in a 12 month period of time was $100, but we usually do rent raises in $30 increments (that equates to a $1 a day).

I am not opposed to paying for education, but I'm not gonna blow my whole savings account so someone can tell me to clean up my credit, make a LinkedIn profile,  and start wholesaling...I have a ton of POSITIVE energy, a rapidly-expanding network, and a boatload of leads... anyone interested?  

The bill is actively evolving and will be implemented rapidly under an emergency declaration. 

So, essentially, your ROI is about 9%...technically a tiny bit less as you fronted $5000 for some period of time that you got no incremental return on.And if the buyer pays off the loan early and there is no prepayment penalty, you'll actually make less than 9%...especially if he pays it off very quickly...I'm curious why you're not lending out the money instead...should be much easier to earn more than 9% that way.

There wasn't a lot of margin for error on this deal and we ran over our budget in small increments in a few places but our initial budget was ambitious as well, so in the back of our minds we expected to spend and had allocated almost to the dollar what was needed! 

Especially when you decide to do it all at once and not incrementally.