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Updated over 8 years ago,
How soon can you add renter's income to personal income?
I was curious as to whether there is a wait time needed before a landlord could add the monthly rental income he receives from his multi family property onto his own personal income?
I'm looking to purchase a small apt with hard money and I'm thinking of how to refinance the loan through conventional banks for a lower rate with little income on tax forms.
Would I be able to show the property cash flows and would banks be satisfied?
What if I opened an LLC? How would the fact that it's brand new, w/o any income history affect it's bank loan approval chance?
Thanks everyone