I see so much opportunity out now in terms of inexpensive lots, I was just out to see one in Northern IL that looks promising in a B+ area.

Refi into 8% kills your cash flow.HELOC is great for short term borrowing. 6 to 24 months max.You are single, so financially your best move would be to house hack a 2 or 4 family home.

If you list hard and fast terms, your sneakier people will conveniently leave some of their animals off the application. 

Hi Melanie, depends on 10 yr note, could continue to go up slowly for next 30-40 yrs as it has done between 45-82 or 1890-1920, or down for 30+ yrs like 1920-1945 or 1982 until 4 yrs ago, if they have 25% down and long term fixed rate debt ( just got a 10 yr loan at 6.95%) and Cap rate >150 Bp above debt rate, they should do fine-assuming good local market, even if value drops 20% short term, it will recover longer term and should be ok.

Once that amount is adjusted you'll have a loan payment updated based off of the rate and terms of the loan. 2) In you long-term expense estimates I don't see any assumptions for property management (7-10%), repairs/maintenance (7-10%), and vacancy (5%) so I would re-run your estimates based off of new expenses.

The property would rent long-term for $2,500 currently.

Often direct mortgage banks or lenders have an asset allocation monthly, quarterly or seasonally that they utilize to fund loans that are outside of 'the box' or need specific terms or conditions to qualify.

Both units are rented with long term renters and they bring in $2450 a month.

I own a couple short term rentals in broken bow Oklahoma and am working on acquiring more, and also working on getting into land development (goal of building smaller single family subdivisions).Looking forward to connecting!

Real estate investing, in very simple terms, follows this basic formula:Income - Expenses = ProfitIf you own a single-family home and the rent income covers all the expenses and leaves you with $200 profit each month, that's called your "cash flow" and the property is a good investment.