The 8 mos isn’t quite long enough to utilize just the STR income to qualify but many lenders allow AirDnA projections to be utilized as the income to qualify.

First time buyer here, looking for advice.Like most first time buyers currently, I’m heavily questioning buying if now is the right time to buy. 

Legal 3 flatUnit 1 is 2 bed 1 bath currently rented at $2,000 per month (lease expires summer 2025)Unit 2 is 2 bed 1 bath currently rented at $2,250.00 (lease expires summer 2025)Unit 3 is 3 bed 3 bath duplex up owners unit.

Anything greater than 5+ units is considered commercial and usually underwritten based on the occupancy and rental income. - For greater than 5+ multi family properties the 'best' initial source for financing could be a local credit union or bank.

We also did many calculations of income and expense models over time, based on usage.

The second plat used to contain a mobile home years ago and has town water/sewer/electric hookups not currently being used.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Their current lease extends to  April 2025, which at that point we were planning on selling.Why sell in the first place?

If anyone can point me to specific language in the laws passed that does so, that would be helpful as I am operating under current knowledge that short term rentals can be had with ADU's.That said, since the bill does not appear to prevent local municipalities from adopting no short term rental policies, I suppose they can.

I’m currently in the process of refinance with Lori Davis from Insula… appraisal was done this morning…