Hi, I have been on Biggerpockets and reading all the information i can get.We are getting ready to buy our first out of state investment property and looking in Austin.Looking for advise on which area is better, RR looks to be closer to the tech offices and some parts have great schools however Pflugerville is not too far either and schools are not abysmal like in proper Austin and the prices are lower.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Don't be surprised if they MAIL you a rejection back stating that some parts of the application weren't done properly.

With a proper amount kept in reserves, it’s just annoying.The above poster has implied he has received 24 months payments, only they’ve been late.  

Properly executed, an investment in these types of property can garner substantial passive losses, often equal to the amount of capital invested (or more) even in years where the benefit begins to sunset.A few words of caution: - The tax benefit is valid as long as the gain incurred from the sale of your properties AND the investment with bonus depreciation occur in the same calendar year. - Be careful not to let the "tax tail" wag the dog.

CPA knows that the business has a lot of expenses that could be written off if the borrower does not need to show as much income as before because DSCR does not look at income and the client does not need to take a large salary from the business to afford their lifestyle.  

You must properly treat the LLC / Rental like a business.Rents get deposited into the LLC Account.Expenses get paid out of the LLC Account.You can make contributions / distributions to / from the LLC Account.Try not to receive rents or pay for expenses directly from your personal account.Best of luck

Now proper accounting is still important because bookkeeping is the first and best tax strategy for most people but there was a huge time difference in the services performed.

Many of our clients are families adding ADUs as a lifestyle choice, valuing the flexibility they offer.

Sometimes if there isn't an agent involved (or an agent that isn't properly engaged) the software will use incorrect assumptions due to errors in public record and available data.