So much of the land was just taken by the river anyway -- it just re-routed itself and swallowed up most of the land on the riverside of the road.I do have one more favor to ask -- if anyone has leads on an accountant that can jump in to help us file last year's taxes by late November, I would be grateful to hear -- I still need to get them done, and especially need them done in order to apply for the SBA loan by the December 2 deadline.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

Separate LLCs and bank accounts are needed for asset protection, bookkeeping and tax return preparation. 

At Lender's option, a late fee of 5.000% of the installment may be added to any installment not received within ten (10) days of the due date.

I also own a short-term rental management company that partners with other real estate investors and second home owners to 2-5x their returns while also taking the headaches out of operating STR’s.

A second option is getting a DSCR loan.Lastly, knowingly leaving deductions off of your tax return to qualify for a loan is mortgage fraud. 

Sorry for the late reply; I'm not on BP too often. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Quote from @Hector Espinosa: Hi All,I would like to hear your comments about the following property, which I think, based on the analysis I made, seems to a be a potential good investment:* Purchase Price: $98,000* Monthly Cash Flow: $310* Annual Cash Flow: $3731* CoC ROI: 15.86%* 5-year annualized return: 15.35% (with a profit if sold of $25K)Also, what are some of the disadvantages of buying old houses? 

Once you see how much it cash flows, you can divide by your total cash investment to find the cash on cash return, then make assumptions about appreciation and mortgage paydown to find your total return.