The borrower outlines there plan and dates and it is set up with the LOE in the file but in most cases where the bank holds the paper/loan its sent to the credit committee for the final approval and we close. 

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck investing.

Do you hire an accountant to file your taxes?

a 2 member LLC has to be treated as a partnership and file it's own tax return. 

It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/filesGood luck investing.

I have all this cash in hand and I feel IRS is going to take a big chunk from it.I just did many repairs/improvements on the other property as write offs to help somewhat when I file next year.

The SMLLC was treated as a disregarded entity for tax purposes (married filing jointly). 

For that they are usually getting tax prep and filing and advisory / planning services.

High Credit card utilization is better than a abundance of missed payments or recent bankruptcies.

If you're able to get those items over before our call tomorrow we can go through and run more numbers based on offsetting that payment.DSCR is always a possibility for a new home, but it would not have the benefits of a primary residence lending option (terms and down payment).Yes working on it, however, I’m starting to think I should wait until it’s filed in my taxes before I even start looking for another property.