We just don't quite know how to approach it and to determine what would be a fair price (one example was his price was about 62K for the architectural plans, permits, labor, materials, demo)I was trying to find other articles online about these kinds of ventures, but didn't turn up anything; so I figured some of you fine folks might have some insight into this.

There was an article in the local paper yesterday that it’s the 4th hottest market.

At times, the articles make it sound like you can just turn around and pull money out.  

I read an article on how Fannie Mae updated their stance (https://themortgagereports.com/22394/new-lending-rule-for-second-home-vacation-property) and now allows this type of arrangement on Second Home loans.

This article has a quick overview of each loan type, but again you'll want to speak directly with your mortgage broker. 

Theres a huge tech community emerging in the Dulles area. https://www.washingtonpost.com/news/business/wp/2018/06/22/feature/forget-silicon-valley-the-dulles-tech-corridor-is-cultivating-companies-that-break-the-mold/With DC and Northern Virginia booming I see some serious upside in towns in Fairfax county(VA), Prince Williams County(VA) and like what Russel said western towns in Prince Georges county Maryland.

@Jasmine Feeney yes They said in the news coronavirus scare and election time made the rates go down.

I'm not much for social media, but wanted to share the good news with the BP community :)

Hi Volvy,Check out this article - it has several different methods for finding out if a property still has a mortgage on it:https://mortgage.lovetoknow.com/How_to_Determine_if_My_Neighbor_Has_a_Mortgage_on_His_HouseBest,Paul

Credit mix is 10%https://www.creditcards.com/credit-card-news/help/5-parts-components-fico-credit-score-6000.php