I'm working with a reliable contractor and investing in quality materials for the master bathroom, kitchen, and guest bathroom renovations, which I hope will position the home for potential insurance discounts.Benefits of Lower Insurance CostsBy strategically planning and executing renovations during the remodeling process, I'm hoping to lower my insurance costs and save money in the long run.

How long do rentals usually stay on market in Grand Rapids?

There is no such thing as finding a good contractor for the long-term and it's not always because the contractor is the problem.

A home equity loan gives you an option of having fixed debt which is safer if you plan on using it to buy a long term rental buy and hold scenario.

The number usually varies from 10-20% depending on credit score, property analysis, etc.Some lenders will work with any level of investor experience, credit scores as low as 660 and can close in as little as 10 days (there are loan options for 640-660 credit scores- they require 20% down).Another good thing is interest only and 6-24 month loan terms- you can refinance by selling or refinancing to a long term DSCR rental property loan at any time once you complete the rehab.Once the property is ready you can sell it or if you want to keep the property as a long term investment, you can underwrite the loan based on your income /debt to income (DTI) ratios or you can go the DSCR route where the loan is underwritten based on the actual or market rents from the appraisal.DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

I am also looking to start to transition into long turn multifamily properties.feel free to shoot me a message or if you know of anyone that would like to connect.

I rode 20 miles this past Friday with a friend.

Hey @Trevor Duke,Are you looking to find a long-term tenant?

I am always ready to network and build long-term relationships with the goal of becoming financially independent. 

Hello, I am a beginner investor and thanks to all of you, we got our 1st long distance property contract signed.