Though his gross income has improved substantially on paper from the horror 2020 days I’d still say he’s at 25% DTI front end.

Does anyone know of someone that serves papers in this area?

Until then, its merely appraised value....paper equity.

Hi as Steve and Jason pointed out it is very important to keep funds seperate.You will need an escrow account, if it's required by law, your account will need to be titled XYZ ESCROW ACCOUNT, if not so required, it can be any account but ONLY deposits and funds held in trust should ever be depoisited to this account and any withdrawl should be well noted on the check and on your books.If you comingle you accounts and you need paper towels to clean units, the IRS can simply disallow your deduction saying it was used at home since it was paid from a personal account or one of comingled funds.I too would suggest you formalize a business entity, an LLC probably.

They may seem great on paper, but might not come to fruition based on the nature of the investmentGood luck 

@Yash Tamta you can make anything look good on paper!

Well, you make it absolutely clear that either the buyer OR seller can withdraw at any time, no one is obligated, until the final papers are signed.

That shows up as an on-paper loss on the K1 for our joint LLC, which then gets split up proportionately to individual K1s for each participating member.

You can invest in class D areas that on paper will show a high IRR of 20% but I would not touch it with a ten foot pole, but in same breath I would consider a 10% IRR where there is no leverage and low investment to value.

Make 90% of your errors on paper.