PM me and I can email you a laundry list of exactly what we lenders require when doing a bridge loan for a real estate investor.

If you house hack a MF, you are in a position (assuming you can qualify for conventional loan) to buy with VERY low downpayment because of the new lending requirements.

Aside from Easton, code requirements are pretty reasonable.I've looked at expanding to NJ, but the landlord / tenant laws and higher taxes are a killer.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Punch this cc debt in the face every 2 weeks, smallest balance first, until it is gone.

Finding the balance between revenue and guest value is key.

What requirements do banks look for?

@Yusuke Koike if damage was that extensive where the unit is not habitable, check your state/local landlord tenant laws as some just require you let them out of lease, return deposit and refund rent for any time they’ve paid that they can’t live there.

However, this would require you to illegally possess the home for 21 years, then try to lay claim to it.Your best option is to speak with an attorney to see if there are any other options.

I'm also trying to keep my eyes peeled for properties that require some rehab (kitchen/bath/flooring/etc).. not major projects.Details: -I have set aside $350k of expendable cash, and I'd like to leverage this.