Do you have any interest in working with a local turnkey operator in AL to help you acquire a completed property with a renter already in place? 

My family owns REI Nation and Premier Property Management Group, and while we primarily operate in the Southeast, we have one of our main offices in Southlake, TX.If you’re ever in the area, feel free to stop by and meet the team.

For example the building may not fall under the rules of the FHA if it is owner-occupied with 4 units or less, if it’s a single family home rented by the owner and you have less than 5 rentals, or if the property is operated by a religious organization or a private club.

The individual is not a senior officer of the reporting company.The term “senior officer” means any individual holding theposition or exercising the authority of a president, chieffinancial officer, general counsel, chief executive officer,or chief operating officer, or any other officer, regardless ofofficial title, who performs a similar function. Yes  NoInheritor (Exception #4)An individual qualifies for this exception if the following criterion applies:1.

Looks like mortgage is over $4K/month on a 30 year mortgage.Purchase Price $950,000Down Payment $70,015 7.37%Mortgage Insurance 35000Closing Costs $18,000.00 4% $18,000.00Interest Rate 4.25%Term in years 25Financed Amount $914,985Payment $4,956.82Renovations/Repairs $20,000Out of Pocket Costs $108,015Monthly Assumed % Manual InputRent $6,000Property Mgmt $480 8.00%Vacancy $300 5.00%Maintenance/Repairs $180 3.00%CapEx $45 0.00% 45Insurance 50 0.00% 50Property Taxes 419.7 0.05% 419.7Rental income tax 0.0 25% 0.0Expenses Subtotal $1,475"Annual % Increase(rent + expenses)" 2.5%1% ruleGross monthly rent should be >= 1% to total purchase price0.63%GRM (Gross-Rent-Multiplier): the lower, the better13.2Cap Rate (Net operating income (annual) / total purchase price): the higher, the better5.72%Net Income After Financing (/mo.) = Net operating income - financing costs-$432years Monthly CashFlow1 -$4322 -$3183 -$2024 -$845 $386 $1637 $2918 $4229 $55710 $69511 $83612 $98113 $1,12914 $1,28115 $1,43716 $1,59717 $1,76118 $1,92919 $2,10120 $2,278 

Your financing: not sure what that would look like, but your operating expenses and PITI could determine whether this place could be converted to LTR, MTR or might only work as rent-by-room or STR. 

Buy a franchise type business, place it in the space, and sell a turnkey operation with built in lease.2.

In the last few years the City of Danville has created lots of speed bumps for STR operators, so be sure to familiarize yourself with all those restrictions.

Marketing is core to every business in existence and is critically important in RE.

Corporate Veil: Courts tend to respect the corporate veil (the legal distinction between the LLC and its owners) more when the LLC is properly formed and operated in the state where the property is located, reducing the risk of personal liability.4.