Pricing and rates change constantly so if you are seeking cash out of a rental property you can entertain a second DSCR equity loan up to 70CLTV to keep your first in place or take a look at a full new cash-out option.

Mathew, From my perspective you need to talk with local real estate investors and a quality realtor to determine what is needed as well as paint choice options.

For the rehab loan, I would look at options longer than a 12-month loan.

https://get.biggerpockets.com/multi-bootcamp-2024-pro-1/Enroll in the Small Multifamily BootcampMay 21, 2024 - July 18, 2024

Based on budgeting, section 8 seems like a viable option without any major cons.

@Stephanie Gledhill The credit union you found looks like a great option.

Hey Chris,The first question for most lenders is exactly what @Devin Peterson said, they want to see experience doing larger multi-families.

Here's an article I wrote recently for the BiggerPockets blog about short-, medium-, and long-term passive real estate investing options: https://www.biggerpockets.com/blog/gaining-financial-freedom...

I'm wondering what the best option is out there on the market currently?

I read last year you could rent out as STR for up to 90 days, but sounds like DC has eliminated that STR option this Febuary?!