So 560k loan  700- 140 = 560  X  15% =  79k in holding costs for one year.. so poof there goes your equity..

So, they don't want it but even if you say ok, it'll be worth it due to the costs.

You must manage your time (and skills), manage contractors, stick to a budget, and follow a strategy.

Aside from the cash-refinance cost itself)3) Does this mean the new mortgage (30-year conventional for the apartments) be based on the $1.8M with new interest rate (at the time), etc.?

Get in touch with property management partners3.

Build mobile home on the vacant lot I understand the cost involved for rehab the existing house.  

I do not have much knowledge on real estate but I am the hitting  books: BRRRR by David Greene, Estimating Rehab cost by J.Scott, Investing real estate with no/low money down by Brandon Turner and finally, Rental property investing by Brandon Turner.Outside of real estate, I enjoy swimming, bike riding, watching anime, playing video games and interests in the stock/house market.Excited to learn and connect with you all!

@Terri-Leigh H.can you breakdown what your costs are to furnish each bed and additional furniture, furnishings cost are for a 5 bed property. 35k seems high compared to what we have encountered.

Louis offers affordability, cash flow potential, and emerging market opportunities but also presents management challenges, unfamiliar markets, travel costs, local regulations, and crime rates.

@Chiane Martin the biggest challenge to doing Boarding Houses successfully is investing the required extra time.LTR - take the least amount of time, but time required increases as you go from Class A, to B, to C, to D.MTR - take more time than LTRSTR - take more time than MTRBoarding House - can take an insane amount of time to manage!