Generally, lenders base their refinance valuations on the property’s in-place income and existing condition, not future projections.

So, when it comes to writing off expenses, here’s the scoop: you generally can’t deduct travel expenses if you’re just looking for a new property to invest in.

In the coming days, I intend to reach out to a number of you offline.I will also generally respond to Andrew's question about the questions I would like answered.

The general advice I'm hearing is that if I want what I'm looking for, then avoiding a C property is the route.

Several factors indicate the company is not that concerned about efficiency or ease of customer process: the website, a process that seemed to focus on one issue at a time instead of all issues at once, and consistently poor communications and lack of common sense from the loan analyst we were assigned.It started off very well with the initial point of contact, Austin Lornson, who did a fine job of explaining the general refinancing process, responding quickly and thoroughly to our questions.

@Mike Sfera some property managers might do this and maybe give you general guidelines on what to expect for Class A, B and C areas, etc.

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Bank financing is very tough for anyone starting out so HML is generally ( unless you use your own cash or cash in your network) the only funding there is.. the goal has to be though moving towards bank financing so you get the best deal possible.. right now I am at 1/2 point and 7% and my bank pays for my appraisals.

Plus the challenge with mid term is you are generally on the hook for things like internet, utilities, etc.