Usually our cleaning company lets us know the place is still clean.I usually send a nice email hoping all is ok and letting them know they can book with us in the future with a 10pct discount.

Vetting specialists for the work that needed to be done including the property manager.

Vetting specialists for the work that needed to be done including the property manager.

To comply, we asked the husband to complete the rental application and submit the required documents, including ID, SSN, and bank statements.

Here are some considerations for each option:Option 1: Using the HELOC for a down payment and renovation on a second property to rent:Pros:You can leverage your existing property to acquire another investment property without selling your current home.Rental properties can provide a steady income stream and potential long-term appreciation.You can use the HELOC funds for renovation, which can increase the property value and rental income.Cons:You'll have to manage the property yourself or hire a property manager, which can be time-consuming and add to your expenses.There is a risk of vacancies or unexpected maintenance costs, which could impact your cash flow.You'll have to pay back the HELOC, which will increase your monthly expenses.Option 2: Building a new house in a new community and selling it for a profit:Pros:You can potentially make a significant profit if the market is favorable and the property value increases during the construction period.Building a new house allows you to customize the property and potentially attract more buyers or higher rents.Cons:This strategy involves a higher level of risk, as you're betting on the market to appreciate in a relatively short period.There are many unknowns and potential delays in the construction process, which could impact your timeline and profitability.You'll need to have a good understanding of the local real estate market and construction costs to ensure that your project is profitable.Before choosing either of these strategies, consider the following:Research the local market conditions in Chandler, Arizona, to understand the current demand for rental properties and new construction homes.Consult with a real estate agent or investment advisor who has experience in the local market to get their insights on the best strategy for your situation.Evaluate your financial situation, including your income, expenses, and risk tolerance, to determine if either strategy aligns with your goals and financial capacity.Consider the tax implications of each option, as this can impact your overall profitability.Create a detailed financial plan for each option, including projected income, expenses, and potential risks, to help you make an informed decision.Ultimately, the best strategy for you will depend on your unique situation and goals.

All my purchases are about the 80k price point (including rehab) and rent for 1200-1300/month.

I recently pulled and cleaned a list to direct mail that I really liked..

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

For Denial Diane, we often mix up the channels of communication (call, text, email) so we don't sound creepy or  "stalker-ish". 

If that scenario doesn’t include financial suicide, bankruptcy, death, or something similar, then knowing that I’ll be ok in the worst situation helps with pulling the trigger.