This policy will provide additional coverage above what your existing policy covers.

I just acquired a triplex near the university and I'm excited to dive in.

Acquiring an education and knowledge is often beneficial before putting something into practice.

The way I got around it was I had capital that I could use to payoff the load and then the bank issued a new loan for the BRRRR amount, which I then got my capital back plus the additional capital based on new ARV.  

Alternatively, DSCR ratios may not work out due to efforts to maximize the loan amount and avoid additional cash contributions. 

Pulling Equity will affect CF in the short term, but may allow you to leverage into additional units adding cash flow & equity over time.

You will benefit much in the future from the knowledge and abilities you acquire today.

Our properties so far have been acquired using the "nomad strategy" (purchasing a primary home, living in it for over a year, then moving and renting it out).

I had just received a 30k down payment from another owner financed deal and I wanted to get a “second home” and get some additional rental income.

Well Karma, my advice to folks is: Go residential and learn how to solve problems for sellers and buyers.There is a video on upper scale homes that have little equity herehttp://www.selectleasepurchasehomes.com/ Learn sub2, lease options and wraps for controlling or acquiring. or....