The "backdoor Roth" strategy allows someone who earns too much income to be eligible to make a direct Roth contribution, to make a non-deductible contribution to a traditional IRA, limited by the annual contribution limits ($5500 for 2013), and then do a Roth conversion by rolling the contribution over from the traditional IRA to a Roth IRA.

That severely limited the number of lenders I could go to, so I ended up finding a loan product (that costs a premium, albeit) thru Velocity Capital Mortgage that allows fully-amortizing or IO payments (for first 10 years) which will help me build cash flow and accrue title seasoning while I find the right time to pull the trigger on a fully-amortizing DSCR product Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

On the flip side, there is no limit on how much money you can make.

The county assessor has it as $502 but says that is a placeholder for all land values in the Pima County area.Our next option is to find a RE professional who can perform a limited scope land appraisal by pulling land comps from the area. 

Although loan amounts this small are going to be very limited to hard money lenders.

Home365 quoted me by phone last week 7% monthly management fee and 50% placement fee for their "Standard Plan," but their WRITTEN Prop Mgmt Agreement actually lists many fees and limitations.

(I recall she said she has a Morrison address, but that doesn't mean she's in the city limits.)What's your goal?

I am not a W2 employee so constantly limited by my DTI when it comes to bank lending even though I am savvy with saving, house hacking, etc to keep my cost of living down.

An older property with low interest rate and into cap-x can easily do much more poorly than a newer unit with double or even triple the interest rate but limited or no cap-x. 

In what is expected to be a continued tight housing and real estate investment market, there are a few tips and tricks that can help investors get some advantages given the current state of mortgage terms and limited housing options.