He doesn't really seem to know the process for investment properties.

I met and talked with at least 4-5 turnkey investors where they bought a property from someone else with a tenant and try to sell it to me, doesn't know the condition of the house at all, and had all sorts of the third party and didn't do everything themselves.

Remember this: the answer is ALWAYS no when you ask.Having said that, I've been able to get several seller finance deals.You need to have a motivated seller who doesn't need the money at sale.

While I haven't closed yet doesn’t mean that I am not closing.

But 40k in revenue for a 515k house doesn't seem like the best area for str.

Since Thomas is asking about buying a duplex as a first time buyer I assume he doesn't want a hard money loan.

Income from a trade or business where a taxpayer doesn’t materially participate.2.

If the HOA doesn't say anything, then I would check occupancy limits with the city.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

It doesn’t require you to disclose any personal information. you just have to have sufficient assets for down payment and closing costs usually starts out at about 20% down.