Your lender doesn't care where you sleep ; ) You are technically supposed to use your home as your primary residence for a defined amount of time according to the terms of your loan.

Looks like my first step then is to speak to a mortgage lender about next steps.

As an aspiring real estate investor with a background in financial marketing and mortgage insurance, I bring a unique blend of skills to the table.

- Duplex- pro's- renter's rent money will pay for half of mortgage, after that is paid off, move to a house, have passive income x2, most living space. con's- biggest down payment, outside the city, risk of terrible renter, locking us down for at least 7-10+ years to at least make it worth it.Overall, I hate wasting money.

Yea it’s true you need an excuse but the right lender will take care of that for you so you’ll need to start having conversations with lenders and if they say you can’t do it move on from then.

Do any DSCR lenders appraise on the basis of ACTUAL rent?

I always feel like one needs to have more than 1 or 2 reliable lenders.

Doing all 3 scenarios here would cost about 1M$ to 1.2M.The numbers are:- Purchase price: 1.5M$- Current mortgage: 65% LTV, 2.55% 30y fixed- Property taxes: estimate 25k$/y- Current rental income from two 1bed/1bath units: 2200$/m each- Previous rental income from the 2bed/1bath house: 3600$/m- Property mgmt: 12%- Quote for garage ADU conversion: 500k- Quote for remodel: 400k- Quote for JADU: 300k- Estimated rental income from ADU conversion: 3500-4000$/m.- Estimated rental income from remodeled house: 5000-5500$/m.- Estimated rental income from JADU: 2500$/m.Concerns we have:- There's no comp in the area that sells for more than 2.5M for a setup like this.

Most issues are now sol Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

After rehab is complete, you can work with a lender to do a cash out refinance and get into a conventional loan where the interest rate will be lower.