If not FHA, you could use it for your next purchase and the owner occupancy requirement is 1 year, not 2 as you mentioned.

I would say you are off to a good start just by showing interest and enthusiasm for the investment business.o Age: many private lenders require someone to be 21+ years of age.

Hi All,Section 8 (and other entities) understandably require a W9.

It required MAJOR renovating which cost quite a lot of money.

Also, some banks I've talked to require 30% of the balance to be held in their account.

Does anyone know if you can refinance a NACA loan after a year without having to pay the 25k lien put on the property and also doe that release you from the occupancy requirement?

There are some things that can cause issues with your upfront approval or end up causing a denial in or during underwriting that an unexperienced loan officer will not know or catch.One big thing to keep in mind is when you are buying more REI the guide lines require more assets and PITI reserves and a HELOC can "Never" act as an asset or PITI reserves.

I require my tenants to provide a 30-day notice regardless if they are terminating during or after the initial lease term.  

Did Wells Fargo require you to provide any local address?

Fast forward a few months, and they have non-paying tenants who are wrecking the place, and a MIA property manager who (understandably) won't put in the ENORMOUS amount of effort required to manage a property in a C or D area for a small-time client from another state.