Converting the entire property to a rental later allows full deductions but eliminates primary residence tax benefits, potentially increasing capital gains taxes on sale.

Quote from @Jay Martin: Has anyone heard of or used Bluebird lending they have dscr loans, etc. opened in 2018 in Philly, lend in a bunch of states, but hard to find info on them. have not heard of them but based on the website appear legit.

We are currently in the process of Renovating this home built in 1965 and plan to have completely transformed it by spring 2025.

Exit Strategy: How easy/difficult has it been to sell units in similar properties?

However, after a couple of months of searching, I haven’t found anything promising recently.

I wanted to add multi-family rental to my portfolio How did you find this deal and how did you negotiate it?

I am on an H1B visa and new to rental properties.

Hello @Tiffany Makiya,Many investors compare properties using the ratio of annual rent to property price.

We also started repeat visiting Chincoteague, VA annually, and so decided to give another STR run here.

This person is unemployed but willing to pay 1 year rent up front to the PM company and sign a 12 month lease.