3) Dealing with Contractors: guess you found it's not as easy as the "gurus" make it out to be. 4) S8 slightly above.guarateed Rents: typical naive mistake.

If this is a problem tenant who continues breaking rules, that's something you can work on later but for right now you should do the right thing and look into this.

It should be as easy as converting one conventional loan that cashflows well to a Debt Service Coverage Ratio loan or DSCR.

As a general rule of thumb most municipalities expect for the applicant to demonstrate hardship.

But those who do know can make some pretty spectacular deals.There was a famous one in CA.. as these rules are alive there.

Buying properties is the easy part.

Just keep the amount within any local rules and give proper notice.

That will meet the 1% rule, but is it realistic in that neighborhood?

@Brett JurgensThe "2 out of the last 5-year rule" in real estate allows homeowners to exclude up to $250,000 ($500,000 for married couples) of capital gains from the sale of their primary residence if they lived in the home for at least two out of the five years before the sale.

They are farily easy and do nto require much to get started and the Max LTV is going to be 75% but I have seen some exceptions to 80%.Rates are subject to a few thing like loan amount, property type, number of units, credit score and downpayment.DSCR allows you to purchase with No employment and No tax returns so its a little easier.