You can also get a lower rate on a 30 year fixed and even though its a 30 year loan there is No prepayment penalty so you can pay as much as you want but not obligated to pay more.A Heloc is a credit risk and can "never" be used as an asset or PITI reserve which is required when buying additional properties.

I'm a little concerned with the current high interest rates and property taxes (Texas).  

In any event some lenders will count up to 75% of gross rents as income while recording mortgage, taxes, insurance, HOA fees as "front-end" debt payments.

It’s a 1 time fee to obtain the bond which would cover the lease.

Sometimes I do it for an assignment fee, sometimes I do it in exchange for a listing, but there is tons of development and construction going on throughout New Jersey that allows for a great wholesale opportunity.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

Looking at two potential ways to buy real estate for long term hold rental. property A assume the loan on a property with no equity at 6% interest rate.

The larger HOA is asking for a yearly fee of ~$300.

How did you get approved to buy this as a single-family if you need roommates, especially with these rates?

The Buyer agrees to use commercially reasonable efforts to secure such financing within [Number] days following the execution of the PSA.Closing DateThe closing of the transaction (the "Closing") shall occur on or before [Proposed Closing Date], or such other date as may be mutually agreed upon by the parties in writing, subject to the satisfaction of all conditions precedent set forth in the PSA.Condition of TitleThe Seller shall convey to the Buyer good and marketable fee simple title to the Property by warranty deed, free and clear of all liens, encumbrances, leases, tenancies, easements, restrictions, and other exceptions to title, except as may be expressly approved by the Buyer in writing.Property DocumentationThe Seller shall deliver to the Buyer, within [Number] days of the execution of the PSA, all documents and information relating to the Property in the Seller's possession or control, including but not limited to, title reports, surveys, environmental reports, leases, service contracts, permits, and warranties.Non-Binding NatureThis LOI is intended solely as an expression of the mutual intent of the parties with respect to the proposed transaction and does not constitute a binding agreement, except with respect to Section 9 below.