I've been trying to refinance this property for a few months and am having a very difficult time finding a lender that seems to fit the model of what I'm trying to do here.I'm trying to refi for around 70-75% of he ARV which is just over 300k.The rent roll is $3350 a month and after reserves for taxes, insurance, etc. it should cap out at around 10%.I'm trying to keep the title in the business name.

If you proceed with an offer use the inspection report to determine what needs to be replaced/repaired now and what to include in your CapEx reserves.  

I'll make sure to do more research on the reserves and HOA tomorrow.

Just make sure you have reserves if something goes bad!

I feel like it is riskier since the federal reserve is slowly increasing the interest rate so you can be looking at a much higher interest rate in the future.

I can do it any weekday 4:00 or later.I also called the Lewis Cooper Jr Memorial Library (in Opelika) and they have a meeting room that is available for $20 which can reserve the room for us to meet.  

@Derek LeBlanc  not sure without looking at the deal in full detail but the two main questions I have are 1) Did you allocate money to reserves? 

This would give rise to reserving this capacity to redeem to another interest party outside of the actual borrower.  

Rent per unit $ 600.00 Sales price $ 110,000.00 # of units 4   less     Annualized rental income $ 28,800.00   Down $ 27,500.00 25% less percentage   Repairs $ - Vacancy $ 2,880.00 10%   Total Investment $ 27,500.00   RE Taxes $ 2,088.96   Loan $ 82,500.00   Insurance $ 1,332.00   Terms     Management $ 1,440.00 5%   4.00% Interest   Maintenance $ 1,440.00 5%   30 Amortization   Utilities/HOA $ 1,464.00   DEBT SERVICE     Reserves $ 1,440.00 5%   Payment $393.87 per month Operating Expenses $ 12,084.96 47%     $4,726.41 per year Net Operating Income $ 16,715.04         less Annual Debt Service $4,726.41 DSCR 3.537       Cashflow $ 11,988.63 Cap rate 15.2% Monthly cashflow $ 999.05   CCR (%) 43.60%        

You'll have to stay in your owner occupied property atleast 6 months & in order to invest in a Non-Owner Occupied property you'll have to have a minimum of 6 months cash reserves equal to 6 months of rent.