In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

An LLC does not impact taxes for rental real estate.

There are mortgage recast calculators online or you can reach out to your lender.P+I payment will go from 2155 to ~1800 given the numbers you provided.

The main hassle of conventional lending is being able to provide proof of income and seasoning.

We are willing to provide additional documentation to support our request and discuss any potential steps to ensure a smooth and fair process for all parties involved.Thank you for your attention to this matter.

These areas tend to attract high-quality tenants and provide consistent passive income, which is a great foundation for building your portfolio.If you’d like, I’d be happy to share some insights about these types of markets and why they’re appealing to investors.

The restrictions vary by location, but they can impact guest satisfaction and demand.

You can't decide which one to choose based on the minimal information you provided.

Some mortgages also don't allow a second lien on the property, so how do you provide the seller with assurance?

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.