Step 3 you will rent out the unitsStep 4 you refinance doing a cash out refi so you can pay back the PML/HML, all while acquiring a mortgage and the remaining portion of the money is what you will use to repeat the process by buying your next property.When you do the cash out refi you want to make sure you use a bank that has no seasoning so you can do it immediately as opposed to waiting a year.

We would like to refinance out of this loan and into a long term better rate ASAP; however, one mortgage lender told me that they require at least 6 months seasoning before they can refinance.

For some quick numbers , they rent 1500 golf carts a day in season at $50 a day . https://www.oceanlakes.com/This place is a FIRST Class operation .  

I have one in Bethany and the off-season is so tough compared to Ocean City.

And once those properties start to season you can start your path of 1031 exchanges.

We have no seasoning requirements as long as improvements are made to the property.

As we near the end of another season, I can't help but express an incredible amount of gratitude for our mentor and colleagues.

HUD announced today January 15, 2010 that it is temporarily relaxing its 90 day seasoning rule which currently prohibits FHA loans for properties owned by the seller for less than 90 days.

That way when they do move, I'm in a decent season to re-rent.

Since taxe season is almost over I figured you would have an idea of what you have to pay percentage wise.My accountant told me that since I don't have an actual company name whatever profits I made would be considered income and added to what I make in my day job, so not exactly like self employed income.