Quote from @Joseph Narcisse: Hi Christina,I am the CFO for a Pinellas Property Management in TB FL and I use the following methods when verifying income for military personnel. 

Quote from @Logan M.: Quote from @Chris Mason: Just sent this over to a client, in place NOI yields a ~9% cap rate on this park, which of course feeds into making 75% LTV doable.

Doing all 3 scenarios here would cost about 1M$ to 1.2M.The numbers are:- Purchase price: 1.5M$- Current mortgage: 65% LTV, 2.55% 30y fixed- Property taxes: estimate 25k$/y- Current rental income from two 1bed/1bath units: 2200$/m each- Previous rental income from the 2bed/1bath house: 3600$/m- Property mgmt: 12%- Quote for garage ADU conversion: 500k- Quote for remodel: 400k- Quote for JADU: 300k- Estimated rental income from ADU conversion: 3500-4000$/m.- Estimated rental income from remodeled house: 5000-5500$/m.- Estimated rental income from JADU: 2500$/m.Concerns we have:- There's no comp in the area that sells for more than 2.5M for a setup like this.

Not only is it unsafe to collect over $7,500/m in cash, it also begs the question "why" each party goes to and from the bank with so much cash as a preferred option. 

Either option would cash flow around $300/m.

@Dylan Thomas @Bernard Joseph S.

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It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best

Most of my wealthy friends (> 10 m in net worth) have not even heard of them.

If you don’t want hire a PM m, however it will take a substantial part of income.