Generally you will have more problematic tenants and higher and more expensive turnovers.

You will save a lot more in expenses getting a traditional hard money loan and using your own funds for the downpayment and closing costs.

Once you are behind, we require forward progress towards catching up - which looks like this;Let’s say you are behind $750.  

The seller benefits from the spread between the interest rates of the old and new loans.Agreement: Ensure a clear agreement on who will be responsible for the existing mortgage payments and how any arrears or defaults will be handled.Seller Second Mortgage:Structure: The buyer gets a new first mortgage to pay off the existing loan and a second mortgage held by the seller for the remaining balance.Consideration: This may require refinancing the existing loan, which can be costly and may change the loan terms.I hope this helped.

If it is going to be your primary, conventional lenders will require 12 months seasoning. 

@Mike Liu there's always a tradeoff between risk & reward.If you want higher cashflow, you'll need to get into riskier investments.STRs are riskier than LTR due to: saturation, changing local government regulations, more intense time required, etc..Regarding LTR higher cashflow:If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Here is the current list of cities:http://ritaohio.com/MunicipalitiesI am rather sure that the list has only been expanding over time.As a person/entity who earns rental income in any of these jurisdictions, you are required to file a return not only for the state, but also for RITA.

Give them the required notice to enter their unit for a physical inspection of the property and go in. 

Journal entry credits any income and debits any expenses that are in Buildium. 4.

We took an $80K HELOC on Lake Arrowhead for expenses.