I am convinced that this is deliberate action by Sherman Bridge to earn the $1,500 monthly interest as long as they can procrastinate and put my refinance off; and now having read other posts in this forum and learning that it's the normal way they do business with so many other customers I can see that they sell this hard money to permanent financing loan combination as a dangling carrot really since it's oh so clear Sherman Bridge never intended to process the refinance in a timely manner to begin with.

The 2% rule seems to be intended to protect against long term expenses (carpet, painting, roof, etc) but if the cost of the home is so much larger than the upkeep expenses it should instead get back to a cost per square foot to maintain-- Example 2000sq ft * $3/yr = $6k/yr for maintenance seems much more reasonable then needing to go achieve the $18k/month route to suggest cashflow.

I could still maintain a normal 9-5 while collecting rent from the additional unit(s).

I have noticed the same with triplexes (not a bad thing, I know) but I would prefer to pay my mortgage down along side others that would love to help me pay it down by occupying the space itself.Should anyone have advice on a way to get my foot in the door regarding duplexes, please let me know.  

(May 31st)Facts:The Auction is starting at 100k with 50k bid incrementsComparable sales in the area between a low of $154 to a high of $178 per square foot.  

I normally rent it out for a week at at time, and we also do weddings and other events.  

As the market keeps edging up more and more, I'm going to slow down and go ride my bike a lot more... starting to think about taking the year off and just ride, then check back in the fall when most deals start happening as people normally sell before the tax season, or after the tax season in the spring.

Normally the company issues a warranty guarantee that the problem will not re-occur

My personal residence is a 1500 sq foot 1950's home and I recently had the original fuse box switched to breakers.  

The tenants are on normal leases.