These loans focus on the property’s income potential rather than your personal income, so they don’t require W2s or pay stubs.

While land loans still require good financials, smaller local lenders are often more willing to work with unique situations.You could also look into partnering with a private lender or forming a joint venture with someone who shares your vision.

You may not get the first property you offer on because if it looks good to you, you will probably have competition so start offering on properties that fit into your personal investment philosophy and meet your minimum financial requirements. 

I do some private lending and if the deal met my requirements with furnishings I would be ok.  

The lender may then require your co-signers to be owners of the LLC, but not necessarily.

Selling a property that requires significant work can indeed be challenging, but there are several avenues you might consider exploring:Local Real Estate Agents: A local agent with experience in selling fixer-upper properties or historical homes in your area could provide valuable insights.

This one requires a very specific tenant who values that feature.This variation got me thinking: How can I identify more properties like my first one?

I need a mentor in this area.For NJ, I wouldn't go near them with a ten-foot poll unless I had bought sight unseen before.

However, there is a straightforward process that does not require any secrets or gurus, which is illustrated below (click to enlarge).I will summarize each step below.GoalsSetting written goals is the foundation of any successful venture.

Future gains on the investment portion may be deferred with another 1031 exchange, while gains on the primary residence may qualify for the $250k/$500k exclusion if residency requirements are met.This post does not create a CPA-Client relationship.