This means it is shared loss/gain proposition and you assume potential liability for any losses including legal issues that may arise.Essentially, your betting that your operating partner has the skill and experience to find, rehab, and manage the property.

When you get your loan for your purchase you will designate your property as a primary residence, there will be language in that mortgage/deed of trust which will typically stipulate that designation and there are guidelines which allow you to move out and rent the property in the future without having to refinance.

I think my best bet is to go retail here.

For conventionals if there is more than 51% investor concentration thats a problem as well if there if more than 15% deliquency of OTHER unit owners can cause you to not be able to sell or refinance the condo if needed.

I'll refine my search a bit and find that thread.Thanks for the response Mark!

Hello again,Does anyone know where I can get a basic income statement for a SFR I am trying to refinance and the bank has requested one.

Then you can refinance using the true market value.

This was a refinance that got the borrowers, of which 4 out of the 5 were Canadians. a rate that was 2 percent better than their old note.

Regardless of whether or not I refinance I am on track to have these mortgages paid off by June 2014, shortly before the balloons come due.Now, I asked my local lender about refinancing these into an LOC since I am on track to pay them off in about 2 years anyway.

If your property is worth a lot more than the debt you have on it you are likely better served from a ROE standpoint to either refinance and deploy the cash elsewhere or exchange to a larger property.