Maybe a work-around could be showing "bank statements" that go back 2 years that corroborate your 1099 earnings? 

Your young and haven't built the experience to have big earning power. 

I am setting a loan in SC for 6 units that will be using the seller in 2nd. position-this greatly reduced the down payment for my client!

And don’t forget that your legal bills, process server fees, etc are higher.But even after the expenses and the higher maintenance, the reward of the much higher NOI is there to be earned.

Reduce Taxes through depreciation (If you don't meet the IRS definition of a real estate professional, it won't improve any W-2 income taxes)2.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Starting smaller might help you gain confidence and reduce potential stress.In your situation, if you're comfortable hiring a property manager to handle day-to-day operations while you’re working in the oilfields, going for the 4-plex could make more sense, especially with your high income.

Thus the $3000K interest I earned from my hard money personal loan to my investor friend is considered "Portfolio Income" and will be reported and taxed at my personal tax rate. 

Husband and I are considering buying his parents' home and I have some questions about this and would love any feedback on how to minimize hassle and our costs. We're doing this for two main reasons: 1) Prevent his da...

Changing the name allows you to retain all the current accounts and credit history while ensuring the LLC reflects your new purpose.If you're concerned about privacy, consider changing the name while also updating any public records to reduce the chance of someone tracing the LLC back to its original purpose.