The key difference is that when buying as an LLC, you won’t typically qualify for traditional FHA or conventional mortgages.

A loft area, for example, does not qualify. 

To qualify for a $900K DSCR loan, you would typically need to show rental income of around $8K per month, assuming property taxes are about $10K annually and insurance is around $3K.

You can ever use the income from the other unit toward your own income when qualifying for the loan.Good luck!

We seem to be returning to the “Drive until you qualify” days, where homebuyers are forced to move further out to find affordable housing.For someone who works in Marlborough and only commutes a couple of times a week, buying a multifamily home in Worcester might seem like a smart investment.

Focus on maintaining good credit and building cash reserves to qualify for better loans and manage expenses.

I price DSCR loans all day, lots and I mean lots if times SFH do not qualify for max cash outs because they are DSCR constrained because of the rent. 

Since she is both an attorney and an investor I think she is definitely qualified to answer your questions!

By last night and early this morning, I did suggest that they evacuate but that they could stay if they didn't have any other options (surge is my main concern, we are on the 18th floor so I don't think they will have an issue with that and we have Miami/Dade qualified hurricane protection)...BUT, I was very forthright that they would likely be without water and electricity and stuck on the 18th floor possible for some time.  

Highly recommend trying to require the agent to provide you all the tenant qualifying info for you to review BEFORE you accept the property with tenants (potentially, nonperforming ones).