Fix up minor imperfections and rent to multiple students.

We do fix & flips, fix & holds, rentals and multifamily loans.

First of all - do not buy any more homes until you get these ones fixed up and cash flowing!

I met with a local bank that has commercial rental loans on a prime rate + 0.75% on a 5 yr fixed, 15% down, and amortized over 25 yrs.

Also, they stated this situation with the title would make it hard to sell the property to someone using a lender (which was the plan at some point once I fixed it up).

It’s till a good market to get started in.Are you looking to invest in rental houses, or do you want to gamble on fix and flips?

You can get a 30 year on it for sure the question is how long will the term be fixed for. 

We want the root cause of the problem addressed and the problem fixed for good but we are not sure our property management company can manage this repair and/or stick us with unnecessary costs and/or no guarantee of reoccurence.  

You could also see if your buddy would be open to joining you in fixing the house up and selling it together ARV and splitting the profit.

If you want to take advantage of owner occupied purchase as you get moved around and get 30 yr fixed conventional loans, then you have to take title in your name.