The only reason it is structured as unsecured is if 1) the borrower's net worth is substantial and it's basically a credit card or 2) collateralize funds cannot be secured for a specific reason (such as high volume inventory purchase/sales) but the ave balance stays constant.

I am not a banker but I think this would also help out DTI since our overall expenses are going down while rent stays the same. 

I'm wondering if you'd be willing to give an update on how everything went down? 

Does it mean they'll stay? 

have laundry room on each floor and eating area and set of rules in kitchen area. met a lot of travelers who stay at hostels and they have setup like that. there was one where they had a weekly dinner and had to contribute towards food prep and cooking to keep cost down and for laundry they had washer/dryers. 

The smell of cat urine, and more-so, spray is near impossible to remove once it is embedded in the subfloor ... it's even more tenacious than dog urine.We bought a property where tenants and their farm had been for 9-years ... it was a complete gut job - even the concrete slab, under the subfloor had to be treated to remove the smell.Good thing your tenant is paying over market rent as they longer the felines stay, the more it's going to cost to be rent-ready for the next tenant.

The major drawbacks include potentially being stuck with undervalued rent (at least for the duration of the lease), and potentially high rehab costs to update once they move out.

Are you trying to stay with small MF?

Read books on investing in real estate, listen to the podcasts, attend webinars and stay active on the forums while connecting with other investors in your area and pick a niche.

These wall heaters get really hot.I live in Utah - so it's cold about 8 months out of the year - unless it just stays hot.