If it’s going to be an entity, then under what category I should register it? 

The tenant refused to communicate about his plans to vacate and finally left the key under the mat on June 2 but made no communication, so we had to make 4 trips looking for the key.

On the other hand, if you're working with a lower budget and cash flow is your priority, say under $180k, Cleveland is the place to look.

And would this be considered "capital gains" since it's re-sold under 1-year therefore having to pay a large % of tax on the profit?

And if you want an extra layer of confidence, find an investor-friendly real estate attorney or a knowledgeable friend who can help dissect the operating agreement.

This gives them the same protection and coverage under your policy as you have as the primary policyholder.

Quote from @Joey Backs: Quote from @Jason Wray: Joey,Under certain programs you would qualify for a Primary home each one requires a few things but it can be done.

If you can’t “always close” on every home you put under contract, aim for 90-95%.

We take the T12 roll it forward, we strip out anomalies and one-time expenses and then layer in base assumptions and any known large expenses that are planned for the next 12 months.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.