I have a prospective tenant that filled out an application.However I need some advice on qualifying this individual.The current rent is 3600The applicant is a family The Spouse doesnt work The main applicant gross W2 income is around $10000 monthThe monthly net income is $5700No car loan's No credit cards balancesThey pay $800 month on a personal loan.Since a rent check is written after net income is received.

My current home loan is a heloc and its pretty much maxed out from using it for a down payment on the first property and its also climbed to 9% so I  need to get it redone to a traditional mortgage and get the rate down on it.

If there’s an electrical issue, it’s typically up to the landlord to fix it.Heating and Cooling Systems: The landlord is responsible for maintaining and repairing any installed heating and cooling systems.Appliances: If the property comes with appliances, the landlord is responsible for repairing them if they break down.Safety Repairs: This includes things like smoke detectors, carbon monoxide detectors, and any other safety equipment the property might have.Remember, these responsibilities can sometimes vary based on the terms of your lease agreement, so it’s always a good idea to clarify these points with your tenants.

Be sure you have the tools necessary to manage the loan properly.

I worked with one lender who did NOT require title insurance on smaller loans under $75k.

The subtle differences between terms like “remove,” “replace,” and “installation of new” can indeed lead to unexpected outcomes.I use a detailed excel spreadsheet to clarify expectations I'd have no problem sharing I use with all my clients that I perform work for.

Hi Forrest,Our office is in CA but we can do flip loans in most states including VT!

We also install motion sensor lights on the side yard in case they need to access it at night. 

For this, I will most likely need a Hard Money loan and/or Bridge Loan on top of a Conventional Loan.Does anyone have a solid spreadsheet that I can calculate multiple loans within one cash flow analysis? 

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