We're a real estate fund administrator and most of our clients that have many SFR properties will hold them in just a handful of LLCs and the determination or whether a new one is needed is typically based on the lender providing them with a blanket loan/LOC.

Since last year of November, Fannie and Freddie has allowed borrowers to put min 5% down for conventional loans and being able to invest multifamily up to 4units.

Purchased awhile back, and loan fully paid off in 2028.

You can also try to rent out the rooms individually for weeknights when demand is lower, but that adds a whole nother layer of complexity and micromanagement and so and so slept in the wrong bed that’s it’s hardly worth it.So let’s say you only had 5 full turnovers at $200 a pop, for $1000 minus $550 management minus $300 bills minus $150 restocking of supplies and incidentals That’s $2000 taken out of your $5500 leaving you a $3500 profit when you could just do LTR at $3250 without adding years to your life Now if I was local, which I was at one point, I could reduce a fair bit of these expenses and improve the systems.

The title and loan is obviously in his name currently but we agreed to fund renovations (and yes, we created a written agreement for this) and then share in the rental income profits.

The title and loan is obviously in his name currently but we agreed to fund renovations (and yes, we created a written agreement for this) and then share in the rental income profits.

I currently have about $112,000 worth of equity and also have my VA loan tied up in the property. 

Every loan I crunched had us raising rents on the 3 other tenants to get even vaguely close to our numbers. 

I'm curious to hear about others' experiences with implementing their plans for initial improvements.

I have this issue with my beach property :)Overall your approach to using cash and getting a loan later isn't a bad one at all.