As a broker in the transaction, you’d want the principal party you represent to sign waivers acknowledging their understanding of the significant risks they’re undertaking.  

I am paying both the 1st mortgage and Heloc payments using the rent money, then i am using my own money i recieve add 3 full loan/mortgage payments that go directly to principal and interest on the Heloc freeing up a huge chunk of it back up to buy house number 3.

Typical credit card minimum repayment is 1% of principal + interest. 15% interest is daily rate of .041% assuming 31 days, 1.27% for the month.

Option 1 - buy a house and pay ~3+k per month (including taxes, insurance, cap ex)Option 2 - rent in good downtown area for $1,300 per monthI'd pick option 2 and save $20k guaranteed per year (versus principal paydown, nonguaranteed appreciation, and negative cash flow).

Do note that only the mortgage interest that you pay is deductible, not the principal payments, but you'd also be able to take depreciation and possibly other expenses on the property such as utilities or maintenance.

You take the monthly rental income and divide it by the monthly payment (principal + interest + taxes + insurance) and if that number is greater than 1 you have met the basic requirement for DSCR.

I personally purchased my most recent home with an assumable loan that has a 3.08% interest rate and it is saving me THOUSANDS every month on mortgage payments and additional principal debt paydown!   

It comes with both the Sweep Checking account that automatically takes any deposits during the day and pays principal first at 12AM each night "sweeps," over that money into the AIO or line of credit.Some features:-AIO or All in one - 1st position lien of credit accrues interest only after principal is paid at 12AM based on rate/365 simple interest and auto charges it to you balance on the 20th-21st of the following month (interest is basically paid slow and principle always first)- You get 2 accounts when you setup the AIO: 1) the AIO 1st position line of credit itself, 2) The Sweep Checking account- There are no monthly payments so long as you have available credit because the interest is added to your balance on the 20th-21st of the following month and that reports as an on time payment.- Margin on the AIO ranges from 3.25-3.75% + 1 month libor Index (which has lately been around .16% or so).

Hi everyone,I recently purchased my first single-family property in 09/08/2023 and converted two smaller rooms into rental units while occupying the principal room. 

you should get a RMLO or an underwriter to qualify the borrower. if its owner occupied and in florida you also will need to use a third party servicing company to service the loan which will run you around $450/yr. not an accountant but its my understnding unfortunately the interest income is going to be taxed at ordinary income and the principal will reduce the principal. how you offset the losses talk to your CPA.your best bet honestly is to just sell it and bite the bullet.