The Landlord insurance policy quotes I am receiving has a high deductible for Wind/Hail/Named Storm coverage which effectively means replacing the roof would be out of pocket for me which defeats the purpose of carrying this insurance.

Can you elaborate more on what you mean by "Commercial" - are you looking for a business-purpose loan on a residential investment property or are you looking at true commercial real estate (office, retail, etc)?

If you find this route won't work out, and decide to keep it as an investment property, lenders will want to see the following for a short term loan: 1.

It's a smart move for both keeping more money in your pocket and making your property more appealing to a wider pool of buyers.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

Meaning that if tragedy happened and the unit was unusable, they'd cover market rent.

I do understand Capex would have been good to put in there, and the 10% general rule of thumb will be something I will keep in mind!

Also, keep in mind your criteria and process need to be consistent for all applicants.

Depends on your goals.MF allows you to scale faster - which should mean more income.

On the other hand, this lender is also very picky, for example they require 100% liquidity of the borrower, meaning someone would need $3m liquid to get this $3m refi (& you don't get to count loan proceeds towards that liquidity).