I feel that we are armed with the right knowledge, and now it's time to execute.

The way Westminster's codes are set up, anything not explicitly prohibited is therefore allowed.

Also, I'm noticing that those who are unlicensed and uninsured are much cheaper than those who are licensed and charging an arm and a leg for basic work.

The days of the options ARMS, teaser ARMS and basically the loans set to make a borrower fail have gone away. 85% of Americans have an interest rate of 5% of less and out of those mortgages about 95% of those are a fixed rate mortgage.

Looks like white cabinets and dark countertops are popular.I also don't want to spend an arm and a leg on upgrading the kitchen, so we will be doing the work ourselves since we are living in the unit. 

We've been doing 5/1 ARM commercial financing so years 6-10 could look different for us. 

Lastly, remember that it is very common for refi appraisals to come back light, since there is no arm's length transaction for an appraiser to push for.  

(Or technically, the city's ordinance is silent on the issue, and the way ordinances work in Westminster, if it's not explicitly allowed, then it is prohibited.) 

(THIS IS A WEIRD ONE BUT IT'S THEIR RULE) - Two years tax returns to validate receipt of rental income - Current lease if property newly acquired - 12 month rent history - Income/loss calculated at 75% of lease amount (Schedule E calculation/worksheet not utilized) -Rental income from departing residence not allowed • Depreciation and amortization add back not allowed on personal or business tax returns (WEIRD, BUT AGIAN THEIR RULE)• 2 Years Tax Returns for self-employed borrowers*No Exceptions*  • Bonus, overtime, and part time income- 24 month history required, if you're counting on it• New Employment- must have at least 30 days of income received • First Trust Arms must have rate fixed for at least 60 months• No Annual fee and no prepayment penalty or close out fee • Tower pays the closing costs and the HELOC has a 24 month close out recapture of those costs.• 30 Year Term – 15 year draw period with  15 year re-payment period. 

If all the investments are arms length from you or other disqualified persons it should be fine.