In addition, I spoke with my lender and I can qualify for an additional $225-$250K conventional loan for a “second home” because I didn’t borrow against my entire income to purchase my primary residence.

I should also add that in addition to the 100k I have liquid, and the 55-60k I can get against my house, I can also qualify for 500k based on my income and expenses, and use the 100k liquid as the 20% down. 

I have given many references and even book options for case law and code statute and even said go ahead and email me and I will send you additional 40 +page summary just on the LLC with caselaw and codes etc from some of the best AP Attorneys in the nation.

Does the PITI include the additional 60k in reno?

Should I add this to the overall rent when I market the unit, or should this be a monthly fee that is billed in addition?

The unit will be fully furnished and have all amenities in addition to an in unit washer/dryer.

Hello all,  I am in the process of refinancing my primary residence to use the equity for an investment property and I was wondering what is the typical equity required, on your primary residence, to be able and secure an additional loan for said investment property.

Additionally, there is so much waste through a real estate transaction, it will take a long time to fully optimize the process (brokers, lawyers, title companies, appraisers, inspectors, they all have areas which can be optimized) I’m a licensed broker in NJ FYI

However,  I think it might be possible for you to buy another property, use additional leverage when purchasing it, and get some of your equity out that could then be used for the improvements that you want to make on the fixer-upper.

@Lamont Marable Be careful encouraging others to use "Morris Invest" if you do a search here on BP you'll see hundreds of posts of investors who have been scammed and lost thousands of dollars using them.I would avoid them at all cost and always do additional research when getting recommendations or seeing a t.v host face on YouTube selling 40k homes.