However you need to remember if it takes 2 years to foreclose you will have about $3,000 in legal fees and 2 years worth of new taxes and water bills, and potentially fines, that you will have to catch up also.

Tenant seasoning will be required for a bank refinance.

We’ve noticed water seeping issues through the shower tiles, causing damage to the sheetrock in our only bathroom on main floor.

So the fact that Form 1099C is required for the 2023 tax year should be questionable or invalid.

I'm guessing the lender will require 6 months of insurance and taxes up front at closing for an investment property which will drive the closing costs up considerably. 3.

I would recommend that once you set your rental requirements (And if you haven't, make an actual list) do your best to STICK to them.

For example in and around DC some jurisdictions charge insane fees for new builds ($40k school impact fee) and have very challenging code requirements (sprinkler systems in homes..)Anything crazy like that?

Fill out the required IRS/Treasury affidavits and documents.

There are a lot of condos closer to the water and I wasn’t sure if those were long term or short term rentals.

After speaking with Lender, their requirement is experience doing Ground Up construction.