Furthermore you can vastly increase your returns through leverage using a non-recourse loan but that will definitely trigger UBIT but again the numbers can still make a lot of sense. 

M my loan never closed.

I see you did a loan sizing down below on your sheet, but I'm thinking that's on current NOI and not on a 7-year projection.

@Steve Powers is correct that these were mostly originated as owner occupied loans.

Following Up + More details: @carolineOur utilities were also opened using an LLC but since the power had actually been shut off the problem mostly came from ICE sending someone out to turn it back on plus installing a new style meter (which had to be approved by our HOA but that was another matter entirely and not particularly difficult).Opening a bank account with BCR as an individual is easy and you can get an atm card in about 3 days but you will be limited to holding only a thousand dollars in it.

I was told by Wagner that the builder is trying to refinance the construction loan as the cost of construction has increased. 

I read that one of the requirements for getting your second FHA loan is having a change in family size.

The expense tracker, reports and rental sheets (useful if you are planning to do the BRRRR method and need to calculate 2 different sets of loans).I used to have my own custom spreadsheets that I built but this one does everything mine did plus much more. 

Let's use that as an example. 20% down is $43,000 plus lender loan origination fees, closing costs etc is going to push you over $50,000 cash out of pocket.

I think your goal of getting your first RE investment for around $50k is doable as long as you plan to leverage debt (Loan).