In the 10+ years we've been house hacking, we've seen people hack a 200k condo to a 2mil dollar multifamily around Boston.Since the 08 recession, underwriting requirements have really tightened up so if you're looking for a "hard" ceiling for how much you could afford to borrow/purchase, a good lender will have an arsenal of metrics to make sure you qualify (ex.

Or you do a cash out refinance to purchase another property which will grow your portfolio but is going to decrease your cash flow as more leverage (borrowed money) means a highly debt servicing cost.

Just make sure to take into account all the refi costs, including title, lender fees, appraisal, points on the new loan and so on (in my case the all in refi cost came in at almost 8% of the total amount borrowed)3. can you cash out any money by moving to 30Y ? 

Plus new folks do a very poor job of screening the buyer for Ability To Repay (ATR) which involves pulling full doc and calculating the borrowers DTI, honest income, honest debt payments, prior debt payment histor (FICO) etc etc.Plus shockingly (or shocking to sellers) if you bought this investment house, fixed it, then are selling with financing you are selling "inventory" and y9ou owe taxes on the gain in the year of sale, you are NOT able to use installment sale to spread out paying taxes. 

There is a lot I can write about on break evens, returns, investor spread, securitization, etc but that’s not very relevant or interesting to borrowers and rightfully so as the only thing that matters at the end of the day is the interest rate spread to borrowers.

You can include it in your borrowers contract

A Condo Warranty is the approval of the Condo HOA, which is completely separate from the approval of the unit or the borrower. 

If you intend to live in a unit get to know the FHA  loan for 2,3,4 plexes and use that.Make yourself into the borrower they want, ratio's down, cash reserves--different lenders may haev a little different requirements between them.Some other smaller bank held loans (portfolio loans) may be 20% to 35% down.Focus on getting the down payments while keeping an eye on any net worth requirements the lenders may have for you personally.The more down payments you can get the faster you can grow.Many people hold their assets in an LLC, or LLC's (not a Corp), many others use an Umbrella Insurance Policy--it's a decision you will have to make.You are looking for Cash Flow.

The market you live in might be too expensive for what you actually qualify for.Asset Performance Based Loans: These loans are not dependent on the borrower's income, but instead on the the performance of the collateral (the home).

You are going to be paying interest only payments on the cash you have borrowed until you sell.