A HML should count 75% of the rental income, so you may only break even on the loan.You might find a seller financed deal where you could provide a second on your place in lieu of a larger down payment.Stated income cash out refi?????

If you are charging only $800 a month rent, your expenses will still average about $6,000 a year.The other mistake is not counting lost rent as an expense.

In such an example, how do you all count it?

Hi Jonathan -- just a few things that have sunk in for me in my long illustrious (6 mths and counting!)

That's what the scammer is counting on.

Basically I'm looking at new electric service with new boxes, switches, baseboards and smoke detectors (quoted $1500, counting on $2000), fix some of the walls and windows, open up some odd wall choices (non-load bearing), and so some cosmetic work.

I assumed that would make my credit look good but I guess that didn't count for anything.

One reason is your question as to financing after the straw man fee is paid, since it nets above the sale price, it is not an amount that can be counted by the buyer's lender.

I'd also expect a new water heater to be a requirement.Back to windows... without seeing them, I'd say you should probably count on, at the very least, reglazing them.

Spammers come here and those who work for the spammers come here and praise their work,product or whatever in the guise of a regular joe who has used the spammers products,services,etc with great results.The biggest giveaway is their 1 post count and their constant praise of the spammers.If that's not your intention then everything is alright and welcome to BP.