@Ryan Daulton,Correct.

It sounds like you're saying that the cell can have a separate bank account opened as long as the master account is already in place (at the same bank) - is that correct?

It does not have the proper zoning but it is build out correctly.

Net income is what gets taxed and that is different than cashflow.If you are managing your business correctly, usually cashflow is higher than net income because depreciation expense lowers your net income and depreciation is a non-cash expense.

To ensure I navigate these legal aspects correctly and make informed decisions, I’m looking for recommendations for a knowledgeable real estate lawyer or legal entity in the area.

Correct and if they do even offer non recourse it's super low leverage 

Randy is correct on the insurance, check out those rates. and then make your decision.

Hi @Rhea Jeong,The situation you're describing is actually pretty common, especially for first-time investors looking to maximize their purchasing power.You’re correct that some lenders will consider a portion of the rental income when determining how much you can borrow, typically in the 75-80% range especially for FHA loans.

@Nathan Gesner To build on this conversation and break down the details for Bobby and others (and please correct me if I'm worn here Nathan), I’ve analyzed the numbers and realized that unless you purchase a property at a very low price and/or pay in cash, financing can significantly reduce your ROI.

I'm pretty sure you're correct in that you have to have a subscription to get an AM Best report.