But as a bonus you can use 75% of projected future rent as extra income to qualify even if the plan is to never rent and flip.If you need help with closing costs its always permitted to have seller provide a 2% credit off purchase price to help pay buyers closing costs on an investment property.This is designed for novice investors.

I have the simplest finances on earth to keep up with compared to anyone who falls outside of that category.

I have since found out that he is a doctor with two divorces in 10 years, which put him in a bad credit score category.

And the bonus of having separate MI is that it can be canceled at a later date (something to look forward to).Worth mentioning, MI can be paid in monthly installments (the traditional method), but there is also an option to rip the band-aid off and pay it in a single premium. 

By full gut I mean full gut- we have it stripped down to 4 exterior walls and will be putting new bonus room trusses on in less than 2 weeks.

Hi, I am looking for recommendations for an insurance agent who specializes on rental properties in or near Watertown WI (bonus if they are familiar with house hacking).Any help is greatly appreciated

@Jeri HerreraThe only tax benefit I can think of that you get on commercial property that you wouldn't on residential property is Section 179 expensing categories that allows you to 100% expense roofs; heating, ventilation, and air conditioning property; fire protection and alarm systems; and security systems.

At least his overhead fee was in this category, as you mentioned. 

Always a bonus when you can save some money as the agent and property manager. 

In order to use your VA loan a second time, without refinancing your existing property out of a VA loan, you must have enough bonus entitlement.