Within the nonQM space there are products like DSCR, bank statement loans, P&L loans, asset based loans, etc.

I would recommend first establishing what your financing options are based on your cash on hand and cashflow expectations....  5% down? 

I assume you're not using software yet with one unit so you won't have a portal they can log into for requests, communication, etc.Text and email address for repairs, questions or concerns.

Closing costs vary based on State and County for Taxes, Insurance, Doc stamps, transfer taxes, Title, and every Bank/Lender requires different points/hard costs.If you have any specific questions of if your just getting started feel free to message me or reach I out. 

The 5 year proforma by DEFINITION is based on a whole slew of assumptions about a whole host of issues in the future - national economy, local economy, interest rates, cap rates, rental rates, political and geo-political factors.

I'd assume the tenant base is mainly nurses and professionals.The other option is to do a 30-day minimum on Airbnb, who collects a 3% fee, but handles the rest.

Sounds like it's been vacant for a while based on your narrative.

It was a base hit.

They can take out enough for a down payment for the next house and a little extra to put into savings as a "What if" fund maybe 3-6 months PITI based on the new home payment.

*This link comes directly from our calculators, based on information input by the member who posted.