We won't make a loan if it does not look like the rehabber can earn a profit of at least 10 to 12% of the ARV, converted to dollars, of course.This approach takes both your profit, in dollars, into account as well as the value of the property.

The investor should consider what his long-term strategy is - are you going to live there for 5 years then sell, for instance?

If they continue to smoke in the apartment, you have grounds to file for eviction due to them breaking the terms of the lease.

Hi Carline,I know there are down payment assistance programs for properties 4 units or under but anything over that is considered commercial and to my knowledge there are no loan programs out there.I'm not sure if the down payment assistance programs are still active but I can find out if you'd like!

Is there a standard letter that I need to send tenants a month before the end of their lease to remind them to move out by the end of the term?

It was a lot to mention in the post but to make it more difficult this is a VA loan.

I also have access to a VA loan, have any of you leveraged the VA loan putting zero down?

Trying to keep it as long term rental, I'm getting 5/1 arm starting at 7.4, also 75% interest only 6.8%.. what would be the best deal to get out of the HM?

Nicholas, as long as you live in one of the units for at least one year, then you should qualify for an FHA loan.

It might be easier to treat it as a full scenario with Purchase price, Down payment, Term, Prorgam, occupany, number of units/rents per door, Taxes/Insurance (Any flood, HOA) etc.