Then if you have a better use for the 3rd unit when at full capacity they you can look to remover them.Curious - whey loan product are you using for a owner occupant that needs a gut job? 

Personally, Integrity, Track record, Conservative culture, and Interests alignment are key when selecting a firm to invest with.You NEED to feel great about investing with a certain company, you need to feel that you can actually trust them and sleep well at night knowing that not only do you believe in the product you invested in, but the people behind it.

I am looking at a property on auction.com and the listing says: Conventional Financing Not Available.Does anyone know if this contingency is based on the time that is required to close or whether it is just a protective clause in case there is a cloud on title and financing would not come through.I have a hard money loan lined up for it and would plan to back into a mortgage as the property barely needs any work. 

I'm glad that you already have agent/lender already lined up, but I would be careful to make sure you analyze and look at as many deals as possible to determine the best property for you.

Bottom line, who is responsible for the overages?

You get the money up front, do whatever you want with it and pay it off just like your first mortgage.You don't want that.A HELOC is a Home Equity Line of Cedit. 

—I’ve heard that as well is the places you rent out don’t necessarily have to be top of the line for the students but more or so maybe fix em up a little.

If you have any questions or need recommendations or advice feel free to drop me a line. 

Claim these expenses on Form 2106 or Form 2106-EZ and carry them to the appropriate line on Form 1040.

The bottom line is that I have listed all of them when still in the renovation stages.