If not, the reps tend to provide what they think we will accept based only on their conversations with our borrowers.

I'm based in NYC and looking to find an investment property in Philadelphia.Because of the distance, my agent is willing to visiting the property on behalf of me and sends me videos.He goes into each room and shows me with his commentary, which is helpful.Because I'm not onsite, I'm not sure if I'm fully understanding the neighborhood, atmosphere or details that I cannot find in the video.Would you have any tips to ask for, or pay attention to in terms of viewing property via video?

- Can you use an STR based 1007?

Seller wanted to dispose property off market since there was a murder in the home in 2019.Home overall is relatively turnkey, Previous owner built a custom deck in the backyard, installed new countertops, HVAC 2020, Roof 2019.

I would suggest looking closer to places like Freeport (LL Bean alone attracts a lot of folks), Portland (where the Old Port is always going plus the added benefit of renting to people coming in or going out on the airline), and near Kittery (near the Naval Base where again folks coming in and out will tend to stay) if you are wanting year round high occupancy.  

DSCR products qualify you based on the property itself cash flowing.

Brand new knob and tube would be marginally ok, if you added a ground wire. 125 yr old wire of any kind is a hazard, and knob and tube in particular has a lot of issues Some of the previous posters have tried to justify it saying that it is legal because it was up to code when installed.....but they neglect to say that any K&T system still in place has certainly been altered, modified, added to since it was installed...and that automatically makes it illegal.

So that fact alone is going to make it very difficult to get your property seen based on how the algorithms work. 

Hi Sejin,Are you calculating the rental income based on long term rental or short term rental? 

Then I have the option to engage the attorney to appeal the tax and only pay if they succeed to reduce the assessment based on a percentage of the reduction.