I will ultimately spend $35,000-$40,000 more on finance charges when looking at the total picture (not paying the $50,000+ pre-payment penalty) but was able to complete the transaction with $320,000 less equity.

We do have a back up plan incase the assumption falls through as we are preapproved upto the amount of the home.

I guess I don’t understand the paying another fee on top of the normal fee.

The plan regarding primary residence is to finish the basement out to increase a number of bedrooms and capacity for the short term rental.

They generally end up with better options than a lower income self paying tenant.

They aren't licensed or insured.At least a PM is typically licensed and insured.From what I've heard Joshua Tree is very saturated so it sounds like your doing good to break even.Since you seem to be doing everything right and going beyond what many are doing, adding someone else to manage the property will just lower your Net profits from having to pay them.

Rates are hight right now and if your primary residents has a great rate the HELOC normally is the smarter play as long as your have repayment plan that allows you to risen and repeat.  

Currently I pay 1550 monthly for rent and I have the following mortgage options with this purchase:- 2996/Month 15% down- 3406/ Month 5% DownPlease ping me a message if you’re open to having a brief conversation. 

My wife and I plan on buying another property at the end of this year and will probably move that property into the LLC or Trust as well.

Verifying income is a method of determining whether they have the funds to pay rent.3.