I recently read in a book that suggested I should open a dual checking and savings account, and take the security deposits from my future tenants and store them in the savings account, then use the checking to pay the mortgage or maintenance fees.

Hi All,I am interested in a property with 4 (1Bd+1Ba) apartments. The building has a retail storefront. Is there any chance of getting a residential loan on this? Central NJ. 

Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.

Their application doesn't ask for many details, just like when I filled out a comparable form 20+ years ago, although I was legit.

3) What feedback are they giving you about inquiries, showings, feedback & applications?

Do one task at a time in each app so you can compare apples to apples.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.

(By using ~$140k, you're indirectly referencing 25% of the 2021 conforming conventional loan limit, so I'm guessing you read $137,062 on a VA COE issued during calendar year 2021 that you came across for some reason and "about $140k" is what your brain stored)But for folks with no outstanding entitlement, that limit was tossed out the window right before COVID, one of my main wholesale lenders is doing $4,000,000 VA loans on up to fourplexes with 0% down as of yesterday (how smooth was that California military veterans relevant plug, and that keyword/SEO drop right there?

Has anyone used one to "store" some excess capital gains to defer Taxes?  

There is one book for 49 states and a separate book for California.You can store the deposit in an interest-bearing account or in a non-interest-bearing account.

This means that if you were buying a quad and the tenant-occupied units rented for $2,000/mo, we would give you $4,500/mo additional qualifying income on your loan application ($2,000 x 3 units x 75% = $4,500/mo net rent).