It serves as a testament to the power of vision, collaboration, and dedication in realizing ambitious commercial ventures.

They may run credit but they never give me a hard time about my DTI ratio, my lack of a W2, or the fact that I offset my income with passive losses and don’t have much “income.”

As a broker, you might be able to read the landscape and find something that, even at a small loss (if it happens), will be worth your time. 

A number of investors can look at a property and come up with many different values depending on their vision of what the property will be.  

(Also very cheap because it only covers their property and losses they cause.)

First off, talk to your network—family, friends, or potential private lenders who might be on board with your vision.

Yes it happens but it’s not very commonTitle insurance generally operates retrospectively, that is, it indemnifies against covered losses caused by things that occurred before the insured took title, not after.

That shows up as an on-paper loss on the K1 for our joint LLC, which then gets split up proportionately to individual K1s for each participating member.

The way a competent loan officer would handle this is use this form:https://singlefamily.fanniemae.com/media/7746/display  This starts using the income or loss directly from the K-1 which will have already accounted for the P&I on the 1065.   

I only mention this number because at $150k AGI, the active investor allowance enabling one to deduct $25k in losses from active income disappears, as I understand it.My current portfolio:Condo (purchased in 2021 w/ 5% down)Single Family (purchased in 2022 w/ 5% down)Multi-family primary residence (purchased in 2023 w/ 15% down)Above-garage apartment and detached ADU are rented out.