We learned the importance of precise budgeting, as the $35,619 renovation required careful oversight.

We learned the importance of precise budgeting, as the $67,150 renovation required careful oversight.

. ($125k per year off your last 4 years of living expenses.) but it Seems like a no brainer to sell vs rent. 

Stowe is more expensive, but commands a higher nightly rate and Stowe is busy year round, with the slow seasons being only November and April. 

For example, if it was a ten year lease starting in 2017, then you would need to honor it through 2027 - if there was also tenant options to renew then those also would need to be required to be honored.

QUESTION-if i where to pay off those credit cards in the next year or two, get my credit score to the required number and have the correct debt to income ratio.

@Heather Little short answer it depends.Longer answer: Section 469 requires that you meet both the 750 hours and more than 50% test (sounds like you are aware of this).

@Jake Andronico "Expenses" In my market, Rochester, NY, I need 1.5% to 2% to not go bankrupt.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

We've purchased many apartment buildings all over Louisiana and the most shocking expense to make sure you underwrite sufficiently for is insurance.