These types of tenants usually end up buying a home of their own so you’ll have to deal with turnovers every few years.

Purchase price: $10,000 Cash invested: $13,000 Rental Property What made you interested in investing in this type of deal?

Unfortunately, I think this is more a symptom of the level work currently on the attorneys working these types of cases. 

"Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:A transfer of the property (or, if the borrower is an inter vivos revocable trust, a transfer of a beneficial interest in the trust) to a limited liability company (LLC), provided that the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence)."

These types of procedural issues are always complicated.

What type of collateral is required for the DSCR loan?

What made you interested in investing in this type of deal?

We are a popular vacation rental spot due to our 4 seasons, winter activities, cool summer weather, small-town feel, and proximity to the Blue Ridge Parkway.

@Stephanie V.That is a subject-to "type transaction." 

@Margaret NgatiaIf you have this type of $ to put down you are better putting it jnto a passive investment deal as these deals you are showing will cause you to lose a lot of $