The next day I get a text, that a “family member” just happened to stop by and noticed “new temporary” visitors in the bottom apartment and there are new laws in the city starting June 1st for short term rentals.

But you can also re-sign them to your lease too-I try to resign the tenant to my lease on my terms.

Most require skin in the game on deals and work like this:Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 2-5 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

I'm buying property / rentals to make money & build long term wealth via tenants paying my mortgage for me and gain the equity.

Otherwise a typical DSCR loan based on market long term rents should be sufficient to qualify? 

Short term/vacation rentals interest me, but I'm open to learning as much as I can about anything at this stage. 

@Marlia Stone What is your long term goal?

Thanks"Reaching out from Sinistar, we’re a home-sharing platform dedicated to connecting property owners like you with displaced policyholders in need of mid to long term temporary housing.

I’ve seen a few adds for commercial property loans with a 30 year term for properties with 5-9 units. 

Especially in terms of framing, sheetrock, or painting crews.