Hi everyone,I'm going to be building a portfolio in Kansas City and at the start, the properties will be multi family targeted at MTRs.Does anyone have recommendations for legal counsel / prep on contracting for those? 

DSCR loans don't require personal income verification or a debt-to-income ratio, making them ideal for properties with strong cash flow, even if the current owner has credit issues.Here's how it could work:You could use a DSCR loan to refinance the hard money loan, securing more favorable terms without having to involve the seller's credit.Since the rental income easily covers the property’s debt service, you’ll be in a good position for lender approval, bypassing the conventional mortgage route.This approach could allow the owner to stay in the house, while you take over financing with a less restrictive structure.

The allocation can affect property taxes and legal responsibilities.

If your LTV changes from say 70 LTV to 80 LTV or even from 79 LTV to 81 LTV it can put you into a different interest rate pricing bracket and change the cost of rate.3) Changing vesting at the last minute to an LLC can require a last minute legal review.Now all that to say, there are definitely junk fees and other last-minute nonsense that gets added so lookout for those. 

1) LTV - seller doesn't want to you claim at last minute that you didn't get approved for a 10% NOO loan, so can't close and you want your EMD refunded.2) PMC Holds EMD - PMC needs to be a licensed RE broker to do this.

I have had this goal of buying my first duplex and have talked to real estate investors, realtors, lenders, appraisers and have been encouraged so much to where I am anxious to dive into this.Now that I am 18 I have absolutely no debt, a credit score of 727, I have 28k sitting in a certificate of deposit, a couple years of working consistently under my belt, I’ve also been investing in my Roth IRA, I feel very blessed to be in this situation.I am still in high school, I know it wouldn’t be smart to buy a house right now but something in me is so anxious to buy this house I know I have to have patience but I don’t know if I should start the process of getting pre approved, finding a good investor friendly realtor, lender, preparing my documents or if I should just wait.When analyzing deals in my market I have crystal clear real estate deal criteria my strategy is house hacking a duplex, price range of 500,000-600,00 in Salt lake, Utah! 

Each time, each rate has been discussed with them and approved by the PM.

. 💡4️⃣ General Tips: If you're partnering out of state, legal agreements are a must.

I know you guys might not be authorized to give out legal advice but I figure it would be best to get opinions from those really doing it.

You can do brand new builds on ADU's and you can use 50% of the future income from that ADU to increase your approval amount.