This can put a significant strain on your finances and cash flowThey also often require a large down payment themselves and may have a strict repayment schedule that can be difficult to meet, especially if there are unforeseen circumstances or delays in renting the property or generating income from itIn addition, relying on this type of loan may expose you to higher financial stress and the possibility of default if you are unable to meet your loan obligationsThe final decision depends on your overall financial situation, risk tolerance, and your ability to manage the associated costs and obligations

U will never get a dime of rent and you are going to have to probably do as you stated find your own attorney.. its better to leave property vacant than to rent to folks that have terrible credit.

Stock market returns have been good and I don’t have the headaches of dealing with any additional houses or guests.

Unless the borrower is self employed and takes a lot of expenses to show lower income on their returns then it usually makes sense to pay a couple thousand a year in higher interest (you can pay like 4,000 a year in additional interest for DSCR if you are saving 30+k on your tax bill kind of math lol)

Additionally, the contract with the wholesaler is set to expire on Monday the 27th.

In addition to that, the septic tank is undersized for the size of the home.

Quote from @Lisa Albright: Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties.

The landlord should be named on the tenant's insurance policy for additional protection and to assist with tracking compliance.

I am considering building up on my fourplex. 2 additional units.

To give you an idea of how we approach it, we assume the worst-case scenario right from the start is 9-12 months of no rent, $5,000 in legal fees, and an additional $5,000 in expenses to deal with moving their stuff, putting it in storage, and dealing with health code violations or NOV's from the city during the process.