For residential mortgage, an LLC needs two years of its own tax returns or occasionally, a local credit union where you have an account will ok it.The bigger question is about your partnership.

Study landlord basics, especially on what to include in your lease (going forward you will ALWAYS have a written lease).(2.5 Learn from mistakes and don't repeat them.)

Quote from @Account Closed: Hey guys,I have no experience but after looking at all my options I have come to a conclusion that my best move is to buy land and develop multi-family apartment building (15-20 unit) 2 story somewhere between Miami Jupiter.Budget for everything 3MDone with cash + 6% line of creditLooking for long term holdI would love to hear any insight on what areas I should look at, ballpark of build price (hard costs and soft costs) and would love to network with anyone in the area on this.ThanksIf you're looking to develop a 15-20 unit multifamily building with a $3M budget between Miami and Jupiter, there are a few key things to consider:Land Budget: Aim to keep land costs around 10% of your total budget.

Sometimes if that is an approval verse a bank account showing $500K for example, the agent on the list side may need a little education on what you are looking to do, I always have the lender call the agent in this situation to get them on board to get the listing agent more on board. 

I have a priority credit line on my brokerage account that is now > 1% lower interest rate than my mortgage.

One Cost Segregation Study is included in our package with the Tax team as well"Curious - which advisors are you working with and what are they charging for the consult and single cost seg study?

Don't hire people to run your account to reach more people, just show up for 30 minutes a day and make good comments and good connections without asking for anything.

Are you looking for software to track tenants, accounts, rents, etc?

My friend has received K1 documents from his accountants for several years and been paid small amounts.

PROGRAM 2 Owner use up to 3 weeks 40% of Adjusted Gross Standard FF&E in high season & 3 weeks Revenues from the Unit and accessory in low season package required.PROGRAM 3 Owner use up to 6 weeks 30% of Adjusted Gross Standard FF&E in high season & 6 weeks Revenues from the Unit and accessory in low season package required.HIGH SEASON: DECEMBER 21st - APRIL 15th LOW SEASON: APRIL 16th - DECEMBER 20thNote: The following fees are deducted from the gross revenue before the split:5% Management fee, 5% Travel Agent Commissions, 2% Credit Card Commissions, $4.00 per occupiedroom night (TRUMP Fee) & Group meeting fee may apply.Other Monthly Fees: 4% of the gross revenue is moved to the FF&E Reserve account and approximately$20 for liability insurance.Monthly Condominium Dues: $895.57 (These can be deducted from your monthly revenue)Initial Rental Program enrollment fee $500 and $2500 initial FF&E Reserve account contribution.Fees for OWNERS STAYS: In Rental Program (Optional): 1