Having watched many prior co-workers get paid, cash their check at the casino, and promptly deposit it all into a slot machine I can tell you with pretty good certainty that casinos don't have a positive effect on disposable income and good use of the existing income in the area surrounding :)Are there solid local employers OTHER than the casino in a 15-minute drive? 

Once your pre-approval is finalized, evaluate each property by inspecting it, confirming the rehab scope, and making offers based on realistic numbers.Drago

Purchase price: $55,000 Cash invested: $440,000 Currently under construction and pre-leased for $6,195/month, this 7-bedroom, 5-bathroom student rental in Clemson, SC, was built using investor cash and designed for high-end student living.

Is this for props that have a foreclosure filing against them so you can get to the actual owners for a pre foreclosure purchase ? 

Quote from @Roger Paschal: Quote from @Quentin Hollis: I'm currently working on my first real estate deal and will be buying a property subject to the owners existing mortgage.

$60k profit pre-tax.

You may want to consider really understanding construction on existing built homes and then pivot into using a trusted GC for those new builds.

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

(No mortgage on any).the cash flow is a total of $3,100 a monthDo portfolio loans exist for these kind of situations?

Still, you may not have to submit your tax returns. more info would be needed to know for sure, reach out to a seasoned loan officer for pre-approval and see if your situation would allow for this.