TAX QUESTION!

QUESTION 1: Would you consider this a good investment; purchasing a renovated SFH, section 8 it, and utilize a management company?

Here is why there are no responses to your question: it's tricky.Prior to the 2018 tax reform, there was a deduction for personal moving expenses.

We have a few of these programs on our platform BUT my first question to borrowers who are seeking this is: what experience do you have?

Hey @Dana Kennedy, great question!

Hey BiggerPockets family,I was just approved for an owner occupant, Fannie Mae, 5% down with a purchase price of $1.3 million for a 4plex in the Phoenix Metro of ArizonaMy middle FICO credit score is 759My current DTI debt to income ratio is 30%I have enough down payment, closing costs for the subject property, and enough liquid reserves for all 10 of my apartment buildings totaling 45 units in PHX Metro AZ my mortgage lender quoted me with a rate at 8.125% with me paying 0.156 points totaling $1,920My question is,does this 8.125% interest rate sound reasonable for an owner-occupied fourplex 5% down Fannie Mae conventional loan as of March 27th, 2024, at 1700 hours?

So the real question is this - Do you have a signed Change Order with this Contr that specifies the work to be done and the payment schedule?

Tough question to answer without some more clarity. 

@Kim Meredith Hampton makes excellent points, but she shouldn't have to.YOU should already be thinking these things through, so you invest wisely and don't get taken advantage of.BTW - yes, BP is where you can post questions for answers, but ask BETTER questions!

This will be done through consistent cold calling and accessing information at hand Is there a question?