If someone is experienced, we'll usually go up to 85% (maybe more) of the purchase price and up to 100% of the rehab cost, but we're going to limit it to 70%-75% of the ARV (As Repaired Value) for flips.

However, if you plan to rehab at all, you will then need a licensed contractor to provide bids on each project you plan to rehab.You will then be asked to provide a proof of any funds to close, purchase agreements, and if closing as an LLC - most times documentation on that LLC.Overall, the larger number of units (5+) makes the lending process based more off the property than the borrower, contrary to traditional single family housing.I would recommend you work with a Loan Originator/Broker who will be the medium for you to the lender/s.

.- Business Setup: I’m setting up a new LLC specifically for this venture, which means the LLC will have no prior credit history or track record.- Investment Location: I plan to invest remotely in Birmingham, AL.

The cost of running a STR has gone up to a point, in my opinion, it doesn't add up or make a strong case anymore.

Look for quality lenders that actually close deals. 

So going to a meet up every week will not work.

I'm closing on a multi-family property in Albany the end of this month.

Hello Jesse,So did you end up working with renttoretire?

or rent it out and downsize my life to save more.If I rent it out my property taxes will go up to 6% since it will turn into an investment property. 

potential value up How did you find this deal and how did you negotiate it?