Your home will be reappraised after the rehab for this refinance and may increase in value enough that it may make sense to cash-out-refinance or HELOC the property to rehab your next investment property🏘️the larger lot distressed property may open up additional opportunities to you via EHB 1337 and future associated ADU/DADU opportunities.I bought my first distressed investment property the first year out of college (duplex in Bremerton for $350k), then bought a second turn-key estate sale (~$200k SFH in North Carolina).

When you submit your income and expenses to your CPA it should be documented that you did not receive 5 months of rent plus your attorney fees which you should have receipts for. 

(Obviously this question is for if your monthly incoming from other properties and/or W2 don't cover it).

I plan to short term it when I'm not living in it so I designed it with an additional vertical guest bed to the right of the living room and with extra dresser space in the bedroom in case of long term tenants.

Additionally, I'm also interested in multifamily real estate, but I'm a bit unsure where to start when it comes to finding potential investors.

DSCR is a no-income verification loan.

@Jason Staine - If you are still thinking through your options, I'm happy to discuss as well as provide some additional feedback on your site.

@Erwin McClain many investors want to do this for the extra income, but PMCs do NOT want to do it because those same investors won't pay enough to make it worth all the extra challenges.

The additional advantage to a DSCR loan is that they do not impact your DTI and  you can keep them inside of an entity to help provide an additional layer of liability coverage if you would likeEntities would also allow you to be flexible in your ownership structure, if you need to add someone like a credit partner to help get better terms.Just shot you a DM, would love to see how we can help.  

Although a DSCR is lenient on your personal income, they will still require a relatively clean appraisal.