The situation is likely the same all over the country.The person objecting to my original post raised the point that one of the examples of organizations fined was for a very large apartment complex accepting government money.

But the principle will still apply.  

If you have 3.5% down, with very little money going towards principle the first two years, you most likely won't be able to refinance unless you greatly increase the value.

What may seem like a deal to one person may not be for another depending on position in life, experience, access to capital, etc... so just take the time to do your own research and run your own numbers and we are more than happy to assist so that you land in a project that's suitable for you because that is our main objective.

Then they can lay out the full scenario for you and tell you how best to approach it to ensure your DTI is under control and you can complete all three objectives.

I'd hope for a lower rate but plan for the worst.  10 year draw period interest only payments = $125 per month (additional principle payments made ideally)20 year fixed payment assuming no principle reduction = $235 per month$235 payments would begin approximately 8 months after the primary mortgage on house #1 is paid off.  

@Shari Peterson does some of that arbitrage stuff and might be a good person to reach out to.In principle, this is the same concept used by people that draw on their HELOC at 4% to lend out at 10%.

CBRE has some good research on this that can be accessed for free on their website (requires registration).That said, you could get squeezed on refinancing but assuming reasonable leverage ratio on your initial transaction and principle pay-down over given term, you are refinancing a smaller balance so even with spread compression you should maintain positive cash-flow.Good luck!!

If they object you'll have to follow the state law for eviction, Even if they do agree in writing I'd give them like less than a week to leave. you'd delay the court action by that but it could work.Yes protect your business and if they have a crime free / drug free addendum that is great, if not I'd recommend it for your property.

I was attempting to address the first question posed by Fred on how to overcome objections.