.- Neighborhood ~ C- but a C- area here doesn't mean too much, smallish town ~ only about 50k peoplePurchase Price: $660,000Appraised Value at Purchase: $730,000Interest Rate: 6.625% - 30 year fixedDown Payment: 10% / $66,000Cost to Make Rent Ready: $14,000P&I - $3803 T&I - $898Total PITI - $4701/moCapEx, Vacancy, Maintenance - $1099/moTotal Monthly Costs - $5800/moCurrent Rents - $3800 (3 units)Fair Rents ~ $5000 but will likely only charge ~ $4500 to start.

for instance even though San Diego has had amazing overall appreciation over the last half century, it was still the #1 in appreciation the past 12 months at a rate twice that of the national average. 

The loan remains in the name of the borrower.An official assumption means that you are applying for the loan with the bank and must meet all of the underwriting requirements.

The only advice anyone could give you is to stop doing whatever it is that you are doing that is hurting your credit rating. 

And be care of taking advice from someone who has something to gain from you.I don’t understand how you can run any numbers if the occupation rate is a big unknown.

as Update to this post from 6 years ago, there are heloc's on owner occupied 2-4 unit properties up to 89.90% CLTV or combined loan to values (meaning multiple loans but all together not exceeding 90% of the value).Terms typically areinterest only first 10 years and drawable from the lineyears 11-30 its Principal and interest payment Prime index/rate + margin (this portion is fixed but prime is not)underwriting is done assume prime + margin + 2% stress test for underwriting meaning if your prime + margin was 10% then your underwriting rate used to determine your maximum line you can qualify for would be 12% rate as an example based on principal and interest payment over 30 years or 360 monthsIncome is the main determinant of your qualification and fico min 680+ is just the min score to get through the "front door,"Maximum DTI or debt to income allowed is 45% DTIMaximum lines on this product go from 500-750k so you can get a decent line size that can actually buy other BRRR's or fix flips and deals.

My properties are small multifamily and to-date they have generated between 50 and 60% internal rates of return for the past four years. 

You're locking in the rate for a longer period of 3-6 months on each CD. 

We keep a very accurate spreadsheet of STR eligible properties from Brookings through Astoria to help us and our investor clients navigate and focus their search on listings that are both eligible for a permit and forecast lucratively as a AirBnB rental (our current list hosts roughly 100+ on and off market STR's for sale.)Due to the very limited housing inventory, properties that meet client(s) search criteria and budget can boil down to a handful of active listings along the entire coast.

Hi Roberto, great to meet you!