As a clarification, in California, if the money is used for a business purpose, as is the case with rehab loans, a NMLS endorsement is not required. 

@Cole Schlack  I just can't agree with your train of thought when the city council levies fine its a code enforcement action that will be a lien on the property if not paid.. just like you see in many bigger cities were code enforcement tags houses for waste and wrecked cars etc. its a huge issue in most cities I know our city of PDX for sure.And my daughters mother in law is a code endorsement officer in San Jose they have police powers. 

If you decide to work with a partner I suggest the following:1)  Get involved in the DD and review the supporting docs to truly know what you are buying.2)  Use an outside third party servicing agent to collect and service the payments from the payor and then disburse payments to your IRA and the partner.3) Have the assignment of mortgage (AOM) and note endorsement/allonge go into your IRAs name (or the trust vehicle used for your IRA).4) Have a written agreement with your partner.Working with partners can be great.... until it's not. 

And I would like to get to know people before I endorse them as colleagues.

My refusal to sell to him should not be taken as an endorsement of the product.Glad to hear that ABC has been proactive about their awful property management - I hope it improves for the sake of their customers.

Here are my Anticipated Numbers Rental Income Room 1 $950.00Room 2 $850.00Room 3 $0.00Gross Rent 1,800.00Expenses Rent $1,500.00Electric and Gas: $300.00Trash: $60.00Internet $80.00Alarm $25.00Sling Tv: $35.00Water: $100.00Insurance: $50* (going to need to investigate if I need to obtain landlords policy or endorsement on current policy, projected cost of insurance) Total Monthly Expense: $2,050.00Gross Rent minus Expenses: -$350.00.

There also is a lot of people that say what can't be done and not a lot of clarity on how to make an approach work.Turn key may be the best strategy for me but I think at some point I believe opening options beyond ones back door will be needed to expand. just becasue I started the turnkey review site as a public service is not me endorsing any company or the model..

It took mortgage company almost 2 months just to get an inspection scheduled and then more paperwork delays before they finally endorsed the checks for us.

I highly recommend that you adopt whatever system is endorsed by your accountant and not by the BP community.

Large social media leading to IG endorsement revenue.