Let's all remember that $15k amounts to about $105 per month on a 30 yr mortgage payoff.  

Downside is split single contract into two, double closing costs and increased mortgage insurance costs.MY QUESTION:Does this sound correct, or is the underwriter mistaken...Do multiple townhomes require their own individual loans for each single unit (even if apart of the same structure)?

As for the "owner not paying the mortgage" - this MAY happen with a SFR owner - I have NEVER had this happen with the owner of MF units.  

Please bare with me on this one.I own a property with a mortgage of $360k and 900k equity.

Financing assumptions are a 30 year fixed rate mortgage with 4.25% APR and 20% down payment including rehab cost.

I'm technically newly self employed so I don't qualify for traditional financing through a mortgage company.

Long time lurker, first time poster.Over the last 18 months I've purchased 4 buy and hold properties and I just signed a purchase agreement for my 5th, a duplex is Grand Rapids, Michigan.Every property I've purchased ...

Plus, it'd be much cheaper to tear out in the future if you are forced to since it won't be within your house, and you could put a door on your unit to separate the 2 if you ever wanted to rent it out.

If I have a deal  where there is a $108k mortgage on the property, am I to take that out of the MAO? 

This is why all my sub2 deals have me paying mortgage directly to bank.