If you get further into your process and would like a free consultation, please schedule a time with me below and we can connect.https://bit.ly/Meet--DavidDSCR Highlights:• Interest-only available• Cash-out options• Can close as corporation or LLC• Unlimited number of financed properties• Only LTV, FICO, and DSCR required• Loan amounts between $100k - $3.5mm• LTVs up to 80%• FICO down to 640• 1-4 unit residential, 5-8 unit residential, 2-8 unit mixed use, condo and condotel

Is there partial fixes (ie. new roof, wind resistive windows and doors, etc.) that will accomplish what you want on reducing the rates.

Let me here what you would do with the scenario.Purchase Price:40KRehab: 40KTotal Loan From Lender after Rehab: 80KARV: 130KFair Market Rent: 1,200 Mo.If this was your very first purchase, with a goal of wanting to scale, and build a portfolio based around LTR, and Fix and Flips.

Are you looking to start with fix and flips, build up your cash, and then acquire rental properties? 

You could definitely make that amount or more annually, but in this business, the real money is made when you buy or sell. 

Instead, if I ask him to take off a certain amount from the rent check every month and pay that towards the water bill, would that be a good idea ?

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

We need some general input on getting started from the ground up with a decent amount of money to initially invest from the current tax year.

@Oliver Martinez you could have used the "@name" format to include everyone you wanted to reach out to on a single response, instead of entering 6 copies of the same message:)Unless you plan to live in the property (owner-occupied) you will typically need at least 20-25% down to get a mortgage - unless you find a private investor to fund your acquisition.Also, as you've found, most of these lenders have minimum loan amounts of $75k-$100k.Unless you are a VERY experienced investor, we don't recommend buying rentals in the City of Detroit under $80k.

How do you increase the loan amount from 320k to 382k?