Hi Jason, For conventional loans concerning rental properties reported on your PERSONAL tax returns, underwriters will calculate your net rental income based on your Schedule E from your most recent tax return (using Fannie Mae form 1038), depreciation and depletion can be added back in to offset the expenses of the property.  

Best to change the locks anyway to eliminate any risk or perception of risk with the prior owners (or prior residents).

We have our team lined up and are ready to go, and we are adding value to the real estate community through our website, meetup, podcast, and educational content we share internally within the community we learn through continuous education/experience.

STR during peak and MTR during offseason is probably a good way to maximize your rent.But I'm just adding my two cents on MTR when its the sole renting model that some people have.

We added a yard game area/hot tub/pool/etc.

Added value but renovating the entire home with new fixtures.

I was wondering if anyone has gone through with adding them to their units.

@Alexander Phillipslike the others i am struggling because while i sympathize with you, none of this is really adding up...i'm also worried about what you putting "full trust" in your mentor means.sounds like you need to print a copy of your contract out, read it, get out to the site in person, and sort this out. 

I charge a 5% late fee, ( you could charge a flat fee, based on the rent)cthat is added to their rent.

These lenders typically cover the purchase and rehab costs because they’re more focused on the value of the property than your personal financials.Rehab: Use the borrowed funds to fix up the property, adding value by making necessary repairs or improvements.