I assume we will just treat this as ordinary income for the company and split it according to our by laws at the end of the year with our individual K-1s.My questions is , does this sound accurate?

The LLC would then deduct the mortgage interest, and the loan would only be recourse to your dad (reported on his K-1).

I am having issues getting pre-approved through a bank as I only have one year W2 job history and two years self employment history, even though I have 660 credit 10K saved and we'll make around 70 K this year all income combined.

I am having issues getting pre-approved through a bank as I only have one year W2 job history and two years self employment history, even though I have 660 credit 10K saved and we'll make around 70 K this year all income combined.

I was stationed in HI on K-Bay back in 04-08.

A little disappointed that the appraisal came in lower than expected (610k vs 700k) but we think that once it's fully stabilized, we will hit that 700 k at an 8 cap.

Also, the inception of the traditional IRA was due to a rollover of a 401(k) after a change in employers.

@David K.

A Solo 401(k) is not a WalMart discount special.  

@Steve K. he's getting an FHA it's a 4 unit property rents are 1200/month each he's planning on living in the basement of the place leaving all 4 to be rented