Purchase price: $250,000 Sale price: $349,900 We provided a loan for a new construction project in Palm Bay, FL, with one of the biggest build booms.

If no, sell it.

I’d like to increase my cash flow and one thought is selling them on a wrap.My current P&I payment is $280/month with 25 years left on my mortgage.If I do a wrap at 30 years, 7% the P&I payment would be around 980, giving me $700/month of cash flow and no other costs.Sounds simple, but the devil is in the details.

Considering your goal of house hacking a duplex, while FHA loans are common for first-timers, there are alternative financing options to explore:Conventional Loans: Need more credit and down payment, but offer flexibility. 203K Loans: Ideal for fixer-upper duplexes, bundling purchase and renovation costs.VA Loans: Great for vets—no down payment, competitive rates, and no mortgage insurance.Portfolio Loans: Private lenders, good for unconventional income or credit histories.Hard Money Loans: Quick, high-interest, good for investments or major renovations.With $30,000, mix it up—use it for a down payment, maybe pair with a conventional or FHA loan.

If he refuses, terminate his lease and get him out.Change your lease to include a "no smoking" clause.

It's supposed to ensure there are no surprises after closing.

I just renovated a 2 BR / 2 BA single family built in 1900 and it was 55K.Also, there's no such thing as "ARV 200-300K" - you need to conservatively estimate the ARV and come up with a much narrower range.Finally - are you local?  

What has been the biggest hurdle in the last few months and how did you overcome it?

If the lender defaults, will the fact that I purchased the loan as an individual with no licenses compromise my capability to collect/foreclose? 

Or, if it does appraise 'as-is', but the lender's underwriter determines that there is more deferred maintenance than they will allow for (say $2,500, or something close to that) then that would also be an issue.Either way, a 'subject to' appraisal and deferred maintenance are both no-go's for a DSCR cash-out refi.