Hi Thomas, That is a common path that many investors take by utilizing a credit line or second mortgage to access capital to support down payment / closing requirements for the new purchase. 

Most PM companies have a requirement where the tenants income needs to be 3x the rent per month.There’s more to it than that - but it’s a lot to type out.It’s a popular strategy for those looking to get into STR/MTR and can’t afford or can’t qualify to purchase a home themselves. 

Are you looking at a specific franchise your looking to purchase?

Purchase price: $225,500 Cash invested: $125,000 Sale price: $600,000 Mont Clare area of Montgomery County.

Did you purchased land or leased?

For a second I was worried that you were the one who purchased my duplex, but the timeline isn't quite right.

I talk to developers all over the us and most of what you have would pass my initial screening to move forward. then it would go to sponsor experience, liquidity, construction experience, site location and site reports, entitlements, construction partners, etc to clear all the conditions. make sure you have a plan to purchase all the fixtures we passed on that. not sure about hotel financing of beds, desks, etc 

Purchase price: $585,000 House hacking my first SFH - airbnbing the basement that has a separate entrance and my partner pays me for rent How did you finance this deal?

Yeah I've seen LTC being only 60 or 70% of the purchase price.

I’m buying a piece of land that has had a house on it before (it burned down) and currently has an old mobile home, on the other side of the property, that I’ll have to removeFor those who’ve purchased land, what would you do before close?