If a loan officer/account executive couldn't answer that with no ambiguity and full certainty, I would seek another lender or, at the very least, another loan officer within the company. 

Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.

The issue is most accountants think what he says on this topic is not accurate.

However, I’ve noticed additional charges that weren’t initially explained, and the rental payments are deposited into my account in multiple transactions each month.

I have a few different bank accounts with multiple banks for different reasons (business partnerships, bank relationships, etc.)

In 2020 I bought my first house 3 bedroom 1 bathroom and a 2 car detached garage for $175,000 and put a 10k downpayment on it and interest rate was 3.5%, in 2023 I decided to rent it out for $1350 mortage was $1106.62, in 2024 we raised the rent to $1450 and our mortage currently is $1144.76- I never put into account repair expenses, Capex, vacency until I read on rental investment properies book.

My Instagram and FB accounts were Meta verified (@chicagobrie) and someone hacked my linked business account (@midwestresummit) and violated community guidelines.

Especially if you’re interested in finding off-market gems.About your first few questions when it comes to bank accounts and loans, there’s no special “land flipping” bank account, but you want one set up specifically for your real estate activity.

Happy to connect as I am an accountant right down the road!

So, we obtaina full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc.to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyPublic RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.