You have to be careful and make sure the property you purchase will be approved for short-term rentals.

Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

The city said there is a good chance it will get approved to become residential. 1.

You if you're doing any major work to convert the unit/ structure you'll probably need an architect to draw up the changes and get them approved BEFORE starting the work.

(DISCLAIMER--my view is limited and I'm not a structural engineer, so that's not an official 'stamp of approval.')How is the odor?  

Is it normal for the seller of a multi-family property (5 units) to ask me, an investor inquiring about their property, for a Proof of Funds or Pre-approval letter when I am just asking questions like to see the rent roll, losses and profits for the last 3 years and other relevant info to do my due diligence? 

Are you asking about being Pre-Approved?

It was the price they wanted, $550,000, and the slow closing timeline we wanted, to get the lot confirmation plan approved by the city prior to closing.The plan was for RareBird to buy the property with cash first and then RareBird would sell me the duplex at a discount once the lots were confirmed.

They'll also usually connect you with the right consultants, and may be able to make recommendations on contractors, or give you a clear checklist on what the contractor needs to be approved by the bank. 

Anyone know about lien prioritization issue for lender approval for condo in New Mexico?