[adwi]

Having purchased a multifamily recently I can confirm all of these are true.

I bought during the plummeting urban Covid rents. When looking for my mortgage a few banks told me their underwriters were temporarily directed to ignore all building income toward qualification.

I worked with a good mortgage broker and he had the option of 20+ banks that were happy to write a conventional loan using a ratio of the building’s income counting toward my qualification. I believe it was 80%.

Re: cash flow, I live in half the building, at current rents the two tenants pay 84% of the mortgage tax and insurance. The tax write offs more than make up for the rest.