Lastly, once your PPP period expires, you are free to pay down on principal all you'd like with no penalties.Non-Recourse Lender - offers an SOS if things do go south and you can't make payments.

Hello,I have about 100k cash sitting in my checking account and I am at the verge of a refinance.Paying down 25k in principal will help me cash flow about $100 each month.Would it make sense for me to invest else where for better returns or paydown at least 25k principal.Appreciate your inputs.Thanks

@Mark Douglas Here's what a lender is going to want to see when they make a loan (no matter what they may tell you)... if you default on the loan, they can unload the asset the next day and then come after you personally for the difference in what they sold it for and what you owe.

This refers to the rental income produced by the property above the Principal, Interest, Taxes, and Insurance (PITI).If you are buying a 3-4 unit property, you will need to have additional funds to meet the reserve requirement, which is typically 3 months of PITI.

The knowledge on here is tremendous and personally owe quite a bit to BP.That being said, it seems like over the last few months the quality level is going down.

Is it possible for me to later occupy the property to claim the $250k tax exemption for proceeds from the salesale of a principal residence?  

We owe the world our best every day regardless of our endeavor.  

I like to write in outline format because I believe it is easier to respond to and clearly outlines everything I want to portray.Background:My wife and I live in a condo in Los Angeles owned by my mother-in-law• My mother-in-law is willing to gift us the property• My mother-in-law wants around $100k and to go in together on a rental property near Palm Springs• My mother-in-law still owes $170k on the condo we live in and has about $390k in equity on this place• My wife does not want to leave the condo to start acquiring properties, because my mother-in-law will sell itI want to start investing in real estate • I want to own the property we currently live in, to show lenders that I have an asset that makes me reliable to loan money to Title Agents/Lenders• Want us to purchase the home from my mother-in-law• Want us to purchase the home between $300-400k or do a cash-out refinance at around the same amount• Have evaded a discussion around a giftQuestions to Bigger Pockets:1.  

This refers to the rental income produced by the property above the Principal, Interest, Taxes, and Insurance.

Instead look at structuring your terms to get the principal paid down quickly in 3~5 years, with a balloon payment at the end of the term.