You can make this transfer to a limited liability company (LLC), provided that "The mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, andthe LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).Note: The servicer must notify the borrower that a property transferred to an LLC must be transferred back to a natural person prior to any subsequent refinance application in order to meet Fannie Mae’s Selling Guide underwriting requirements."

Challenges?

Challenges?

Challenges?

In reading through the policy documents provided by Stewart Title, it appears that the ALTA Homeowners policy we purchased:"This policy covers only Land that is an improved residential lot on which there is located a one-to-four family residence and only when each insured named in Schedule A is a Natural Person"So....looks like I bought the wrong type of policy?

The entrepreneurs were in the middle -- far enough away to make it challenging, yet close enough to have a good chance of winning.Wealth building seems to attract the misfits.

I think it appeals to people that like a more nature-oriented mountain getaway.Here's hoping that the cabin does as well as everyone tells me it will.

Challenges?

Is it better to buy a fixer upper and actively work on it as I'm living in it so I can increase the appreciation for when I sell and move onto the next, or is it more possible to allow appreciation to occur naturally and build up my property ownership over the course of years and sell out in the end.

Challenges?