., but I keep running into a issue because of a high DTI ratio.Type of property: It is a Single family homeLocation of property: Riverside, CA 92505Purpose of financing: Rate refinanceType of financing sought: Not sure, Fannie/FreddieCurrent or prior ownership of real estate: Currently own 2 other propertiesOccupancy: Currently rented with traditional leaseValue of property at present: $510,000Anticipated or actual appraisal issues: noneCurrent rents per month: $2395Fair market rents per month: $2500Equity: At least 100K in equity after refinanceIncome Source: Hourly W2 and self employed incomeGross monthly income (optional): $12,900Monthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $9100FICO: Good credit

I've since been contact with J who is married and has 1 child, who says he want to move out of their apartment into a bigger house closer to his father.

I don't expect to get rich fast or anything very fast until I DO knock out these loans, but was hoping to at least get my foot in the door and maybe 1-2 "low risk" properties could cash flow my student loan payments.

Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

Thoughts on using BRRRR on a 3/1 1k sq ft homes?

My family does not include my boyfriend...my family's rules and not mine....each member of my family of five would be partners in the corp so that when my grandma passes, the investment is distributed equally among the five family members including my unborn child...my boyfriend is the father.

You hit on everything in your reply to me.The property was owned by lets call him JOHN DOE, john doe was married to wife (will come back to her later) and had 4 children.john doe jr, 2 nd chilrd, 3rd child, youngest son.

I used SAKRETE on my rental's 400 foot driveway to patch the several potholes...

Looking forward to networking with folks here on the BP forums, I am ready to get my foot in the door and start executing. 

Should I keep residential like rental, Airbnb, or use commercial.  5 Minutes from Downtown Bham too. 7000 sq foot lot.