@Will Stahl The debt service coverage ratio (DSCR) loan product were designed for exactly your scenario. 1-4 unit properties are eligible, LLCs ownership, up to 80% LTV cash out (though I'm seeing most borrowers choose 75% LTV when they decide on rate), 30-yr fixed rate & term, rates in the 4s.

Cat urine is extremely difficult to get out of carpeting and pads and while there are some good products out there to remove the stains and odors it is still a toss up as to whether the smell goes away forever. 

This is not to say that you cannot learn things from the products you are sold or from the people like Andrew Holmes, selling things.Just remember what their primary motivation is.

These loan products are very popular and simple to accomplish.

There are pre-payment penalties (5,4,3,2,1 typically) so don't plan to use this product for a short term investment.

The fact that they produce $200k gross is worth something but not generally part of an appraisal or fair market value.We just bought a 1 BR ocean front condo which grossed $80K.

We started looking at 80-200 units when we first started and of course it has been very competitive, however we have been able to find deals that produce the returns we are looking for.

The company has signaled in public filings it intends to produce batteries at the site.

Purchase price: $340,000 Cash invested: $170,000 Converted income producing tri-plex on a 10,500 sq foot lot in a desirable neighborhood one mile from the beach.

Why is both products priced the same when one is typically more expensive than the other?