Sale price: $325,000 Bought my first property 2020 for my primary residence and was able to purchase another property in 2024.Moved into the new property and converted my 2020 property into a rental.

Someone tried to break into his unit he thinks.  

Please do not allow the seller's agent to sweet talk you into signing for the property unless you have made up your mind to inherit the eviction.

Incoming Residentrecognizes that he/she is entering into an agreement which is retroactive to the original date of the Agreement.

Unless there is significant equity in the property 50% LTV may not be enough to payoff the current underlying mortgage.Now here are the exceptions to lift the COB 50% limited LTV restriction:- you inherit the property and it was transferred into your name either via legal award from a domestic partnership/marriage - you have been on title for 24 + months- you took title to the property that was transferred from a partnership or partnership like entity (LLC, LP, etc) that you can document the ownership of 25% or more in- you lived in the property and have been on title for atleast 12 months as a primary residence- you have paid the mortgage for atleast 12 months - or you can demonstrate a relationship with the obligator (domestic partner, relative, family member, etc. )If you qualify for one of the exceptions you are not limited to the 50% max LTV  when considering fannie/freddie conventional cash out refinances on a subject to transaction.

Try looking into zillow/Redfin and see what your potential rents you can get near the neighborhood by filtering the bedrooms/bathrooms of the intentional property that you are planning to buy.

Looking to convert it into a 1 bedroom apt.In need a of a contractor who can handle this. 

And none of my personal money ever went into the purchases except for the first one with 3% VA loan.  

It sounds like you’re diving into this with a solid strategy and an openness to learning, which is fantastic.I wanted to mention that if you’re looking to explore additional markets, Memphis, TN could be worth considering.

When you can buy properties like this, you can get almost 100% of your money out of the property, convert the property into a long term rental loan, with a DSCR Loan (Debt Service Coverage Ratio) where we as the lender look at the property and if it cash flows, and that is expressed as a ratio, for instance if your Total Loan payment including Principal, Interest, Taxes and Insurance was $1000/mo, then you would need a rent of $1200/mo and you would have a 1.2 DSCR Ratio.Here is an example of a cheap duplex https://www.zillow.com/homedetails/732-Broad-St-Menasha-WI-5...