If he has more than 20%-25% in equity after the rehab, He can cash out the 2nd loan.The fact that the rent of the other unit barely covers the 1st mortgage, he will have to come out of pocket regardless of what financing structure he goes to.To answer the question as to how difficult it is to fiancé a Jumbo, it's not difficult at all if you can afford the loan payment on paper. we live in South OC, almost all of our loans are Jumbo, it's very common.

The more affordable options were Coops which are more like buying shares in a building.

The bank will also look at your DTI ratio and see what you can afford as far as price.

Review financials -how much you can afford.

Two, as he mentions in number 5, generate different scenarios as to how much you can afford based on the sales price and how much are you willing to contribute to the rent. 

Those 3 months typically more than cover expenses for the year, but I imagine a ton of non-savvy investors of those beach town houses can't afford to miss those rents.  

But no question cars are a necessity and when your starting out you should be frugal on the car and go for the real estate first and foremost.. you buy the Tesla once you can easily afford it..

Hi all, can anyone recommend an affordable / reliable smart water meter so I can read remotely via WIFI?

It also fits nicely into the affordable housing classification. 100% occupancy and 100% of rents collected in April during the Covid-19 crisis, beautifully recession resistant.

@Ron SinghI say look at the last recession in the market and research the people that came out on top during that time, now I am only 16 so take everything I say with a grain of salt, but I feel as long as you can afford to keep the properties long enough to outlast corona, you should still be buying properties and expanding your portfolio.