The purpose of this test is to ensure that the property generates enough rental income to cover the property's mortgage payment, including principal, interest, taxes, insurance, and homeowners association dues (if applicable).Key Points of the FHA Self-Sufficiency Test:Applicable Properties: The self-sufficiency test applies only to 3- or 4-unit properties being purchased or refinanced with an FHA loan.

Better ask your broker, your MLS, and your association. 

A CPA is a special designation that is difficult to obtain.You are not able to claim yourself to be a CPA unless you pass all the qualifications.A few amount of the qualifications include1) College degree with a certain amount of credits within accounting / Tax / Law / assurance2) Completing 4 exams in accounting / tax / law / assurance3) complete continuing education courses4) Work a certain amount of time under a CPAThe reason that the person you spoke with being unable to say he / she is a CPA is likely because he / she didn't pass the above qualificaitons.

There is a high demand for high paying trade work, often with scholarships and two year degrees.

Over time, gain knowledge and experience so that one day 3 or 4 deals down the road, one is ready to handle the huge responsibility of taking care of other people’s cash.One should also take stock of where they are at - what strength and capabilities they have, what income, what amount of capital, who their social and professional sphere is, etc etc and then come up with a real aka tic plan as to how to proceed.This all can be done but it takes a cold hard assessment of reality and then consistent effort over time to make it happen.Now that @Amir owns some rental property, he can tell his friends, family and associates about it and as they see him do well, NOW he will have more success asking for capital to do bigger deals.There’s an expression How does one eat an elephant?

The individual is a creditor of the reporting company.The term “creditor” means an individual who would meet thedefinition of a beneficial owner of the reporting company solelythrough rights or interests for the payment of a predetermined sumof money, such as a debt incurred by the reporting company, ora loan covenant or other similar right associated with such rightto receive payment that is intended to secure the right to receivepayment or enhance the likelihood of repayment.For example, an individual qualifies for the creditor exception ifthe individual is entitled to payment from the reporting companyto satisfy a loan or debt, so long as this entitlement is the onlyownership interest the individual has in the reporting company.

Reach out to a few and see who you like.You can also ask members of your local real estate investors association for real estate accountant recommendations.Good luck.

You CANNOT depreciate the house if it’s for personal use, ONLY if it’s a rental use.So I can still depreciate the house, write off items I buy to furnish the home, maintain the home, and any costs associated with running it as an AirBnB when I am not using it for personal use?  

You can also ask members of your local real estate investors association for real estate accountant recommendations.Good luck.

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.