Thanks for officially introducing yourself.

You can purchase a property with commercial space via FHA loan, I believe up to 25% of the space can be commercial, the rest must be residential.

(ii) Exceptions The term “period of nonqualified use” does not include—(I) any portion of the 5-year period described in subsection (a) which is after the last date that such property is used as the principal residence of the taxpayer or the taxpayer’s spouse,(II) any period (not to exceed an aggregate period of 10 years) during which the taxpayer or the taxpayer’s spouse is serving on qualified official extended duty (as defined in subsection (d)(9)(C)) described in clause (i), (ii), or (iii) of subsection (d)(9)(A), and(III) any other period of temporary absence (not to exceed an aggregate period of 2 years) due to change of employment, health conditions, or such other unforeseen circumstances as may be specified by the Secretary.

One is in the final stages of being rehabbed and the other is done, waiting to be filled by a tenant.I just applied for a refinance mortgage for the two properties and was denied due to having insufficient income to support the loan.Personal income is ~$40k/yr Rental income on these two will be $1675/moA good deal of cash reservesFICO ~640 ARV of both properties is ~$160k , looking for $100k in refinance (62.5% LTV).I'm waiting on the 'official' denial letter but did get a call from the branch manager stating that I was denied.

I use an agreement stating the deposit is non-refundable in exchange for taking the property off the market and that as long as they sign the lease and pay the rest of the move in money but X date it will be applied to their security deposit.

In one, the defendant failed to refinance or sell, so the judge ordered the listing and named who the agent would be and sold the property to the buyer with the best offer (unfortunately not mine), and distributed the funds owed to the plaintiff and the rest to the defendant.

That's why you can either make these payments to help her or just sell the house, payoff the rest of the mortgage and just move on.

Only 6 of the units were rentable, the rest ranged from needing light rehab to black mold and studs.

I'm getting $25 Best Buy GCs to the rest of the crew (electrician, plumber, carpenter and finisher).

Hello Everyone,Thanks for taking the time to read this post.Ive talked with a family member who is willing to put the full purchase price of the 4 plex if the numbers look good.My thoughts are that I can refi the property in a couple of years so my family member gets paid back all his money and then I assume the rest of the loan.For the initial 2 years of repayment, what is a range of interest to pay back on that loan?