These costs can vary significantly by state, so it’s important to compare the financial impact of forming the LLC in either state.3.

If you are just doing a lower leverage (compared to a full 75% cash out) then it will save you on the rate as well.Happy to connect and talk through some options, but it would certainly be feasible to Quit Claim your property into your LLC and do the HELOC from there, but it is up to you.Good luck!

If there are comparable rentals that support the rent by room amount, then yes it can be considered for DSCR. 

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

If so, why? 

@Yoav Schatzberg Step 1 is to compare it to prior year P&L. 

Thanks in advance for patiently answering my question.PS: I don't have a CPA, and I'm in the process of getting one, but I wanted to get a frame of reference so I can roughly compare notes with anything my future CPA would propose.

Items you will be asked for will be:Address:Purchase Price:Rehab budget:Estimated Term needed:Estimated ARV:Square Feet:Configuration (Bedrooms, Bathrooms):Rehab short description:Explain why this is a good deal:Your history in real estate (including number of flips):Any other comments about the project:Include a Property Data Sheet (MLS Listing, FSBO Ad, Auction Listing, etc)Also include a minimum of 3 Solid Sales Comparables – preferable realtor generated*Once all of stage one above is sent in it can take up to 24 hours for approval to move on to stage 2.Stage 2 on the following page.1Page 2 of 2-Stage 2-After initial review we’ll need the following items sent to processing (Note: all costsat this point are your responsibility & don’t guarantee funding):Inspection from a professional inspectorBPO or Appraisal (Please see guidelines below for a BPO)REPCDates: Inspection Period, Settlement DateDetailed Renovation Budget from 3 contractors (please tell is which contractor you feel best about using)More info may be needed as we move forward, it depends on the best structure for the deal*Once all of stage 2 is submitted in will take a few hours to review and if everything is approved it can take upto 10 business days to close.BPO Guidelines:Please do not use your buyer’s agent to do the BPO.

Conduct a proper valuation by comparing it to similar properties in the area, considering both current and potential future values.

Prices here still seem unreal compared to other areas.