So all in I am at $240,300 , hard money I am factoring in as 15% rate and since I’m borrowing 840k for let’s say 6 months , I’m factoring in hard money costs at 63k for 6 months So now all in I’m at $303,300 ARV should be at least $1.3 million (conservatively) I would cash out refi with a dscr loan and get back 975k , I would pay the $840k I owe to the hard money lenders , leaving me with 135k , and I would pay myself back with that money , and since I would have $303,300 invested , I would pay back 135k to myself leaving me with $168k invested in the house with a equity position of $325k , the actual house number are such after the cash out refinance: This house has 2 units and 3 accessory units Mortgage : $7100Heloc payment : $1300Total = $8400Live in 1st floor Rental income 2nd floor : $30003rd floor: $1500Accessory unit 1 :1200Accessory unit 2 $1200Income : $6900 Net : negative $1200I also already have a house that’s breaking even , but I’m living in one unit and if I move out that house would become positive $1500 which I can put toward the payment of one of the other houses .

An estoppel certificate fixes this problem.

we invest in Detroit I love the city  more then willing to chat about what we   have learnt if you are interested

Because of this, he’s willing to sell at a lower price.

If there is an umbrella policy that covers things that are not covered by the primary, please share as I would be interested in that.  

I have a couple problems with this trend:1.

I’m an REI located out of Bandera, TX, and would love to connect with other investors in this area.

I might have to drop the price significantly to get interest. 

I want to purchase them using a DSCR and need help with this deal.

Hope this helps and good luck with your investments!