@Habbak Burs I agree with @Jason D. - know your numbers.

Originally posted by @Rob D.

@Son D.

FHA will not insure a mortgage if it is determined that the transaction was designed to use FHA mortgage insurance as a vehicle for obtaining investment properties, even if the property to be insured will be the only one owned using FHA mortgage insurance.Any person individually or jointly owning a home covered by an FHA- insured mortgage in which ownership is maintained may not purchase another principal residence with FHA insurance, except in certain situations as described in HUD 4155.1 4.B.2.d.”Then note the only the exceptions where you may be allowed to have a second FHA loan at one time.

Some banks just do multiple D-T (Deeds of Trust) filings as security instrument using independent notes, but a master D-T with a release clause in the note is more common.

I requested a quote from D of R in February but have yet to receive a quote.

@Jason D.

It may be an area that is transforming rapidly from D+/C- to C+ or better and you may have a goldmine.

I’ve done $27k worth of work for $17k ( tenant is licensed insured electrician and my boyfriend d is licensed and insured carpenter )For refi appraisal came back at $260k despite both units getting new kitchens, new floors through out, paint.

@Dominick Austria I have to question your statement about condo 2 having to use the “non qualified use” calculation......she Originally moved into it, occupied for 2 Then rent d and sold within 3 years.