I explained to him this would be more than likely for a flip...possibly a rental which I would go do another cash out refi.

I explained what I needed it for, and we pre-paid for one month with free pickup and delivery.I looked into traditional staging, but it was way too expensive.For about $500 I got a dining set, two sofa sets, and two bedroom sets.I felt kind of dumb after it was delivered, because I thought we were getting platform beds, but it was really just the headboard.

Also there is a "sticky" at the top of the wholesaling forum with an entire thread explaining how to find buyers too.I like to use title searches / reports to find the best buyers in my market.

Please explain.

@Francois D. when I started investing I had the same opinion, but then my banker explained to me that with 30 year loans my DTI is lower and I can get approved for more in the future.

Could you explain this more?

'You need to set up entities to protect you from lawsuit liability' is the general advice.In my area, liability insurance cost $22 per year for 300k Somebody needs to explain me, what can happen, which is due to my negligence and cost more than 300k?

If there is one bad item, we will typically ask the tenant to explain.

Assignment contract stating that you are assigning your rights of the purchase agreement to your buyer for an assignment fee.Its up to you whether you want to explain the process of what wholesaling is to a seller.

Good day,When you say you have a few lates, banks should still work with you, but you will pay a higher cost for the loan and/or need more down.What it sounds like is that your Debt to Income is high and that is the issue.Refinancing the multifamily that you are going to rent can use the rental contracts for the income, but you usually get 75% of the actual lease value.Once you have contracts you can probably cash out refi to get money for a down on your next place.Once you have that maybe flip the next instead of holding it to get more seed cash for your next hold.HML lenders that I have worked with usually want a short term exit strategy, but I know there is a great podcast that should explain HML better.As with any of this, just make sure that your real estate investing fundamentals are all correct.Hope this helps.