Our laws require us to offer a rental first come first served (first completed application that qualifies must be offered the unit).

@Brice Alef-Torrisi To manage finances for multiple properties, maintain separate bank accounts for each property if held under different LLCs to avoid commingling, which could jeopardize liability protection and complicate tax deductions.If properties are under one LLC, using a single account is fine but requires detailed record-keeping for each property.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

I have a few lenders who do but they still require some money from the borrower so they have skin in the game.  

It likely would require something grossly negligent with huge consequences to have a chance to go beyond my coverage and we are not that negligent. 

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

Yes, my banks require a 1.2 DSCR debt service coverage ratio, meaning they want to see rent 20% higher than the mortgage payment.

What you spent on the land/lots can go towards your down payment and, if you've owned the land for more than 6 months, you can use the value of the property toward the cash injection requirement.

@Andreas Mathews admirable, but make sure you do some research so you understand what a PM can make.Starting your own PMC business will require 75-150 doors to make a decent living, depending on gross rents and your fee structre.Working for a SFR PMC as a PM, will require a RE license and you usually get paid a percentage of the gross rents the portfolio of owners/properties you manage generates.

A higher LTV generally requires a higher DSCR ratio such as 1.25 instead of 1.