What improvements did you make with the 20k?

I'm hoping to hold it after everything is done, so maybe that means just getting a bank refinance after the property has been improved and stabilized?

hi Leigh, i have looked the the previous deed and the transfer does have the right name. i am being cautious now that you told me if the name is wrong, the mortgage will still stand. in orange county Florida, you can only search via name and not parcel number, book , block etc. i think the records office here needs to be improved.

ANALYSIS -Gross Rental Income = $70,200Vacancy (10%) = $7,020CapEx (5%) = $3,510Management (9% of effective gross) = $5,687Taxes = $3,442Insurance = $2,848Repairs (6%) = $4,212Snow = $600Heat = $4,929Electric = $3,343Trash = $652Water/Sewer = $1,500Operating Expenses = $37,743Debt Service = $16,406Net Operating Income = $32,457Cash Flow (after debt service) = $16,051 or $1,338/moPurchase Price = $265,000Cap Rate (of purchase price) = 12.25% Cap Rate (of price + rehab) = 9.55%Total Cash Needed = $66,250 + $75,000 (rehab costs) = $141,250ROI = 11.36%Final analysis - While this property isn't the fantastic homerun deal you hoped, it is still a reasonably good investment assuming your rehab costs (which are just estimates) stay under $75,000 and you can come up with the cash out of pocket to perform all necessary improvements to the property over the next few years. 

I have a credit score over 700 and have improved on it since I filed. 

My very first sale of an improved property as a young agent in 75 was a commercial building in Calistoga sold for 25k LOL..

Improvement from 4/19 which is contractual cut off but they are working with title and escrow to go as fast as possible.

@Joseph Farruggio it's probably whoever is listed as responsible in the lease.If the lease says the landlord is responsible, the landlord is responsible.If the lease says the tenants are responsible, the tenants are responsible.If the lease does not specify, then nobody is responsible--and the landlord needs to improve their lease so that it specifies who is responsible.Good luck out there!

I'm wondering if a brief stint as a MTR can make my primary residence eligible for bonus depreciation of improvements?

To improve underwriting you must focus on the quality of your assumptions.