LLC's are still the way to go but yes you can't tap into owner occupied mortgage tools such as HELOC's or high leverage.

That means the early payments are mostly interest while the principal balance is high.

Schools are solid, demand is high, and I think that you'll see an increase in housing prices in the future.

If you need an attorney group to help you structure the right entities for you, we use and highly recommend, Anderson Business Advisors who made the video I have linked above.As for the pet question, all the stats listed above are why we allow pets unless a homeowner insists a no pet policy.

In most of those cases, their broker took a high fee and the investor didn't end up with a great deal.Here are a couple of things that are a tipoff you are not working with a broker with your interests at heart (1) they want to pull your credit before having a conversation, or (2) they send you a long list of things you need to provide them before learning about you and your deal.The conversation should start with why you are interested in REI, then understanding your strategy to get there.

Interested in getting some extra income with converting the extra space in the basement into a rentable unit.Basements in a one-family home can be lawfully rented only if the following conditions are met:Compliance with the Housing Maintenance Code for minimum room size.There is a minimum ceiling height of 7 ft.The walls, as high as ground level, must be damp- and water-proofed if HPD determines that subsoil conditions on the lot require it.The basement is occupied by one family and does not include boarders.Every room must have at least one window.The bottom of any yard or other required open space cannot be higher than six inches below the window sill of any required window in the room.

It's short sighted because it sounds like there is a high likelihood this current tenant will pay. 5.

Understand that high returns mean high risk in any PASSIVE investment.  4.

Start getting your situation less debt ridden by paying down or on your next investment put more cash down to make it highly intrinsic. 

The things you have mentioned are simple, high level thoughts based on assumptions.