How about IRA requirements, for instance to be a real estate professional you need to document x# of hours (which is nearly impossible to do w/a W2 job.)

Almost every time they require additional cleaning and most cleaners hate it. 

Hi Tyquan,There are lenders out there that does not require experience!

Just want to be careful on which broker/lender you use because some of them have a prepayment requirement and try to stick you with a 3-5 year prepay.There is also a 40 year I/O interest only but its only fixed for the first (10) years.Make sure you know how many months reserves they require before you get to deep into paying for the appraisal and then find out the deal is cancelled in underwriting.

By making extra payments or paying more than the required amount, the borrower can accelerate the repayment schedule and potentially save on interest costs over the life of the loan.

Refinanced the $185k balance in 2023 How did you add value to the deal?

From a tax planning perspective, you are only allowed to start writing off the home once it is placed into service (once the lease starts).You are also only allowed to write off the depreciation, and any other costs or losses against the earnings from the property.That is, unless they get the real estate professional status, which requires 750 hours a year working in real estate.

As long as you meet the seasoning requirements you should be able to qualify for a mortgage based on the As Is value.  

From what I am seeing, there is either a slight oversupply or things are somewhat balanced.

Balancing the cost and the risk while keeping your property in good shape is the game here, so take it step by step.