We have owned our current home since 04/2003 and the current plan is to keep this home as our first rental.Basic details on the property in question:SFH Built in 1986. 3 BR, 2 B, 1,694 SFPurchase price in 2003 was $124,900Tax value is $137kAppraised value (personal estimate) is $165kLoan balance is $57k (refi on 15-yr note in 02/2011, overpaid heavily to this point)Monthly P&I is $677Yearly taxes are $3,100Yearly H/O insurance is $1,000House is very nicely updated throughout (I've updated constantly since we moved in 13 years ago).

Not sure any of that helps much, but feel free to ask anything more detailed too!

However, if you have enough details on your scope of work (i.e. you specified the tile or fixture you want), it should not really matter, but I will be charging you before I buy materials, before I buy it.Chris Mason That's a requirement for time and material contract/bill, everything needs to be transparent.

I'm curious about some details of this land.

I'd love to hear more about the details!

I'm not in nursing and I don't know all the details of this program, but ask around and you'll quickly learn more.

@ Paul Timmins I really appreciate your response and detailed instructions.

Hi Tom-Nice details, I think if you couple this with the following information:  (3) Secrets Everyone Needs to know about using a 203k loan for more information on the 203k loan, loan process and how to build the right team for success.Good luck to you!

Michael, Thanks so much for replying and going ino detail about the 3 main different Loan typesThe Commercial Mortgage is the one I Initially understood the least about .You definitely helped me now understand the Loans and how they workSo if I go with say a 5 year term with a Balloon via a Portfolio Loan , Then I will have a 25 year conv. loan when  go to refinance my loan when the 5 year mark is up ?

If there is a rent sign in the neighborhood that doesn't have info online, I call and ask details.