The property is currently being used as a primary residence (looking to move to CA) and was purchased in 2021 for $650k with a 30-year fixed rate mortgage and PITI is just over $4k per month today.

If you have multiple properties your rates may be increased or you may be dropped because of the claim or you may not be able to get a new policy from that carrier for many years.I can't stress enough how much of a mess the insurance market is... think about it this way.Imagine 95% of the primary home mortgages in the US were unprofitable for the banks that issued the loans - how easy would it be to get a new loan?

Hello, I am looking at 2 properties, one 2 unit property that I have put in an offer of about 120k that can generate positive cashflow of $600 per month and another which is a 6 unit property where I have put in an offer of 350k that can generate $2000 cashflow.I have a bank ready to lend a mortgage at 7% for the 2 unit property.

I would allow it only if you are properly compensated for it

They are very worried about the subject to clause and I thought I remember the podcast mentioning insurance policies for this in case the mortgage company calls the loan due.

My plan is to take the detached garage and turn it to a casita to also rent out while still living in the main property to offset the increase in mortgage from the refinance.

Hi, Anyone knows how to put a rental property with mortgage under a LLC in Michigan?

Quick rundown of the numbers:Purchase: $130,000  Mortgage and escrow: $1045 Total Expenses: $1195Rent: $1500Total cashflow: $305Primary issue right now is a 2 year buy back term for a DSCR loan that does have a large penalty for that first 2 years. 

They mostly just want to see most recent bank statements to ensure you have proper funds for the down payment and portion of the rehab budget to start out prior to requesting your first draw.

Will these units equal or come close to my mortgage payment.