@Bruce Bennett this is a super important question and it doesn't just apply to lenders. 

Hello All,I am new to the REI world and have applied to be a franchisee for a house flipping company.

Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.

Late Payment Penalty: A late payment fee of 5% of the overdue amount will apply if payments are more than 10 days late.3.

Let us know how it goes.I provide my screening criteria on my website, and I encourage applicants to screen themselves before applying so they don't waste my time, their time, or their money.

Even if one tenant is responsible for rent payments, the others will live there and impact your liability as a landlord.Accountability:Requiring all adults to apply and sign the lease holds everyone legally responsible for the terms.

A 1031 exchange does not apply to primary residences.If you plan to use the proceeds to buy land for a business, consider whether the land qualifies as an Opportunity Zone investment.

Have your closing docs out and know what ratio the county assessor applies to land value (ie 300k assessed value, $50k land =1/6). 

Just trying to understand what is practical applying the same to a large RV or boat

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?