Hi Kristi,VA loans do have flexible debt to income ratio requirements, unlike every other loan.

Once you purchase the property, you can look into doing a cash out refi to pay off the HELOC balance. 

It's not fraud or anything because you are, in fact and in reality, converting it into something that is not a bathroom and doesn't require any permits.

That would mean there is an approved site plan that includes roads, water, sewer, storm water, curb, gutter and any required buffers.

The answer is NO, based on the language of Section 152(c)(3)(A):...an individual meets the requirements of this paragraph if...

Not only is it very difficult but also leads to poor real estate investment decisions/ rejecting opportunities that require patience while attempting to achieve the W2 replacement as quickly as possible.

If you operate under an LLC or other business structure, are there tax implications or requirements I should be aware of when paying myself?

It’s a mix of strategy, management, and a little bit of chaos, especially when dealing with unruly tenants or trying to balance your budget while upgrading properties.

Lesson two: The Polytech area has a lot of potential but requires careful planning for the scope of work.

Lesson two: The Polytech area has a lot of potential but requires careful planning for the scope of work.