I think I'll have to wait 2-3 years to pay for the renovation unless I take out a loan for the shower renovation.

Sometimes you will get a seller who comes back and declares they want off of the loan, or a nasty letter from an attorney saying that you ripped off their client, or a letter from the State Attorney General that you get to visit them in their office.

Your realtor will be able to give you a much more detailed market specific answer but with house hacking and a VA loan it should be possible to get 0 out of pocket.

I invest primarily in Pittsburgh and if you asked me I'd probably try to talk you OUT of investing here unless you're willing to follow the steps I outlined about getting situated

Finally, the cost of a college education has outpaced inflation, due to federally guaranteed student loans allowing universities free reign to raise tuition and fees.

We hope that you can remedy the situation so that we can move into a habitable home.Suggestions that we have to fix the issues:Hire a company to rip up the carpets, treat the subfloors, and replace the carpets, at least on the main level and on the stairs.Provide an air purifier as a start to remedying the smell.Replace the garbage disposal.Hire a plumber to fix the draining issue in the bathroom sink of the smaller bedroom.Fix the tiles in the upstairs bathroom so they no longer present a safety hazard.Replace or fix the screen doors.Fix the gap between the windows and the walls in the living room.Hire a professional company to treat the entire home for pests.

Commercial Loan How did you add value to the deal?

Quote from @Josh Otero: Hi Briar, These are always tough situations.

You will have to verify those yourselves to ensure you end up with correct operating expenses.Quote from @Andrew Newcomb: Just following up on this in case anyone is still following:I learned about "cap rate" and "cash on cash" metrics in the BP learning articles and watched a couple vids on the BP rental calculator showing how it calcs those metrics for a prop (you have to add the details like loan info, expenses, etc). very cool tool.

Instead of a 1 to 1 ratio, the required ratio can be 1 to 1.2 or 1 to 1.25.More on DSCR loans: DSCR loans won't use your income to underwrite the loan.