If feels like slimy way to pull an extra 10% out of the owner. 

In the past week I've looked at 10 MLS properties.5 of those had illegal additions.I'm not talking about an extra little balcony either.

DATA STANDARDS The CFPB requires data and documentation standards for all entities that service more than 5,000 loans through the Mortgage Servicing Rules under the Real Estate Settlement Procedures Act (Regulation X)7 6 Ibid. 8 PROPOSED REGULATORY PRUDENTIAL STANDARDS FOR NON-BANK MORTGAGE SERVICERS and Mortgage Servicing Rules under the Truth in Lending Act (Regulation Z),8 collectively referred to as the “Mortgage Servicing Rules.”

I knew it would be a fairly simple answer, just wanted the extra input.

The wealth advisor seemed to have a good point that banks like to see the value of the life insurance policy/type of policy as assignable so if you pass while covered, it can meet your obligations, then the remaining is left for family/spouse children.Any truth in this, and could this potentially sway commercial lending apps one way or the other?

But depends on the house and market, since that is an extra expense... 

Tell the truth. 

All these extra expenses start to add up, so make sure you run your numbers well.

Expenses (taxes, HOA, insurance) are $267/moI came up with a Cap of 8% (the bottom of where I am comfortable).If I had $80k in cash sitting around, I would jump on this deal, but as it stands we would have to either 1) buy in a self-directed IRA for a longterm investment or 2) cash out part of our IRA, take a tax hit now, but enjoy $600/mo extra income forever.

We keep them well maintained and tidy with the idea that good tenants want updated, clean spaces and are willing to pay a bit extra for them.Do I let him stay, at least another year until all the other units are turned, or does he need to move on?