In general, I have found everyone seems to recommend the Land Conquest free lessons and the Turning Profit podcasts.

I am on the board of the RPA (Rental Property Association of Wisconsin, a non-profit) and typically hear if things like this are an issue from our members or attorneys.

Lender's like to see that you are profiting at least 20-25% above the debt, e.g .a debt service coverage ratio of 1.2 - 1.25.

The problem is that your debt payments are going to basically wipe out that $400K profit unless there is room to increase revenue or reduce expenses.

Helps you stand apart from similar 4 bedroom homes and if you choose to pursue a rent by the room strategy in can create additional cash flow.

However, the reality has proven to be quite different, and I am feeling deceived and deeply frustrated.I am prepared to pursue this matter further, including with media outlets if necessary.

The property manager must make a profit, otherwise there is no incentive to provide the service.

An LLC shields personal assets from business liabilities, while S-Corp taxation allows you to reduce self-employment taxes by taking a reasonable salary and distributing remaining profits as distributions, which aren’t subject to payroll taxes.

VA loans are the only loans that allow this, and there is no rate penalty for it no longer being your primary home.With that in mind, you could do a cash out refinance today at a higher rate than current market rates which will create profit on the loan, we can take that profit to pay for your closing costs.

I never go off of a flat percentage on anything, I analyze the costs to get to a specific return I target and analyze the risk that is involved. 70% may be an initial metric to see if it is even worth pursuing, but every deal should be evaluated independently based on costs, time and risk involved.