Most capital providers require a 700+ FICO for a Cash-Out Refinance of 5+ units and six months of seasoning to use a new appraised value instead of the cost-based approach.

The feedback was that combining the parcels allowed them to drop some city requirements regarding installing screening in front of the dumpsters, so it saved a small amount on construction cost.Interesting topic, but understand if you are just focusing on the deal itself for now.  :-)Sincerely Joe

Even with rates where they're at lenders require you to have a certain ratio on the payment of rent vs mortgage.

If you want to protect your friend's capital as if it were your own, you'd want to:1) Secure the loan with real estate in the form of a deed of trust or mortgage (depending on the state the property is in)2) Obtain property insurance binder with your lender as an additional insured3) Obtain a lender's title insurance policy protecting them (different than an owner's policy) and transfer all funds through an escrow closer or real estate attorney (depending on the state, the requirements for closing may differ)4) Use a real estate attorney who also practices private lender law in the state the property is located in.

Most of the cash out refinance lender require me to move the property from my LLC to my name for the refinance, is that a normal operating procedure or is it a taxation nightmare to move it back to the LLC after the Refi? 

NathanHey Nathan,A lot of the private/Hard money lenders that I work with do not require that, so depending on your strategy it shouldn't be an issue.That sounds like great idea though, it could set you up nicely to hopefully save up for a good primary residence.Would love to connect and talk through the strategies financially if you are interested!

Especially some that are outright weird to some folks, but those have some of the best returns.

Massachusetts requires that *all* STR platforms collect both city and state STR occupancy taxes and remit them to the state monthly.

I'd be curious to hear from the pros on how this law will affect this group of agents and how folks like me, who will be using a flat-fee agency, should handle working with them when it comes to commissions?

I have a few folks here in the NYC that would be interested at that price range.