Purchase price: $520,000 Cash invested: $12,000 4 plex needing some TLC but cashflow positive on day one - covered the mortgage, taxes and utilities.

I have a VA that I was looking to move away from, but not sure if it's cheaper or more expensive to go with STR Secrets VA.

But if you are able to do the rehab cheaper than the $$ they gave you, you can just use the rehab loan to pay for the interest payments. 

Full disclosure, I'm a mortgage broker in CA, and I'm not saying to use me, but for example, I have closed DSCR loans in East Coast states such as CT, MD, DC, FL, GA, DE, NC just to name a few, and don't consider myself an expert in any of them. 

Thomas, it sounds to me like you own one rental in Indiana that has no mortgage and you own another that you're hoping to flip to appraise around the same $175k as the other one that you own free and clear.

(Max vacated rents - your monthly mortgage payment) = +/- net cashflow.

I am a mortgage broker and I recently closed a few DCSR loans for my clients in Dec as well as this month.

Considering FHA due to new mortgage insurance reduction (0.7% yearly), then refinance once getting to 20%- Closing costs 3%, 36k- high cost 100% necessary renovation (boiler, etc.) 30k.

Annual expenses are made up of:-$10,000 Depreciation straight-lined (27.5 yrs)-$10,000 Mortgage Interest -$5,000 Prop Taxes All losses have to be carried over due to income limit.I then sell property for $400,000.Over the 5 years, I have accumulated $85K in income, but have an accumulated loss of -$125K, so a net loss of -$40K (-$8K a year) that has been accumulated over 5 years.Now that I sold for a gain, I would owe taxes on $125K ($400K-($325K-$50K depreciation reduced)).

We recently got a letter from the mortgage company reminding us that they can foreclose on our property (and take both) if we don't carry insurance.