Quote from @Ozzy Sirimsi: Quote from @Debra Irvine: I'm going to look at some properties this weekend in Baltimore and one of the properties is in a R--8, so it look as if its a townhome so I would have to get permission from the council to convert to a 3 unit building?

I appreciate all of the detail but what information was provided to the agent that wrote the policy?  

Hi John, feel free to reach out if you are looking for some additional options on your DSCR loan!

Hi Derek, welcome to the community!

Purchase price: $125,000 Cash invested: $25,000 Sale price: $230,000 Bought the property about 4 years ago, originally it was a 2-family rental.

My team on the ground there handles everything from sourcing deals to renovation, and we've worked with hundreds of investors each year to make these properties cash flow.We’ve built up some solid relationships in Detroit—whether it’s general contractors, agents, or property managers who understand the ins and outs of Section 8.

Sounds like you may need to find a partner.

We've been in Pensacola for about a year, so we're learning the other parts of town that are better for long term rentals. 

CashHow did you add value to the deal?

This often attracts broke tenants you will have to soon evict.