Borrower Types: The Professional - HM Lender will cut sweet-heart deals to keep these borrowers around Experienced real estate investors Regularly engage in property transactions Typically have a track record of successful projects The Newbie - Charge Higher everything as the risk is higher as no experience Novice investors or first-time borrowers Limited experience in real estate Seeking to build their investment portfolio The Deadbeat - Only lend if the deal is so SWEET, they can't lose if they take the property from the Borrower Borrowers with poor credit history or financial difficulties High-risk borrowers May struggle to secure traditional financingThe lender will do an application on the deal/borrower and some standard docs they require are:Hard Money Application / ExperiencePurchase contractARV report – COMPS – See * Redfin*Pictures of Property – most people use Dropbox to shareProof of Funds – Down / Reserves (Bank Statements)Personal identification (ID or passport)But usually if the deal is sweet enough, they will do it anyway because if the deal goes south, there is so much equity/value in the property that the HM lender can't lose.

If not, you can always increase the rent to market value, but my guess is it being California, there are limits to rent increases.

An umbrella goes over the liability end of coverage only.

Buying with cash simplifies management, eliminates interest, and increases immediate CoC returns but limits scalability and diversification.

Additionally, if you have too many personal use days, losses may be further limited by the Sec. 280(A) vacation loss limitations. 

.: Quote from @Chris Seveney: @Dana YobstBlows my mind how he is out there still teaching classes and going on as nothing happened but it sounds like these debts are not getting substantially paid down.As many of us know, one of the main reasons he's able to continue on is with the help of this other self proclaimed criminal https://weclosenotes.com/ep-nc-03-protecting-yourself-using-a-corporate-veil-with-aaron-young-from-laughlin-associates/ Using a remote entity to limit liability is a life blood of insuring investment into all types of job creating, life saving and life improving business development.  

Most lots inside Boise city limits now you can build at least a duplex on with the new zoning code.

If you reported a lot of expenses and showed a loss, then the loss will be treated as a liability in DTI calculation.

The assignment did not release the original contract purchaser from liability unless the seller expressly consented to the assignment and fully released them (a novation, in effect)… which is not part of the fact pattern.So the agent is right.

An agent has a fiduciary duty to protect your best interests, which include protection from the many different liabilities that can pop up during the course of a transaction.