Thanks Levi T.!!

They keep all the payment records and as you say "keep up with the balance etc" via the amortization schedule and extra payments the borrower will make.Is that what you meant @Rod Joseph?

You don't need all this fancy shmancy sh$t.

The main reason for the disconnect between value and income was that appraisers only used comps from within the development, which essentially meant that unless buyers were willing to overequitize their purchase, it was very difficult for the appraised values to keep up with the 4-6% rent growth the development had seen in recent years.He told me that while the 3BR I was looking at would definitely cash flow, the real disconnect was on the 5BRs.

t. 

George Bailey’s handshake, promise and maybe a few words on a document to be signed by the borrower which meant simply, “I’ll pay you back,” has become a financial instrument, to be traded and hypothecated by faceless financial bureaucrats, each one taking a sliver of profit off the top.Everyone remembers the crash of 2008 and plenty explanations have been posited.

I have been with SSFCU for the longest time and they have become increasingly difficult to work with, so I recently asked the same question you did, and have found Chase business and BB&T and RBFCU to be the ones most people swear by

Thanks, @Max T. for the thoughts!

Admittedly, I chose finishes and design features that were more expensive than an experienced investor would have used for a home that was meant to ultimately be a rental.

@Phil T. find a conventional lender who will do a delay finance, find a motivated seller who will allow you to purchase as close to 70% ARV as possible(including repairs) buy the property, pull capital back out and replenish HELOC