Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.

The only thing constant in life is change AND ultimately the only thing we control in life is our Response to what happens.  

Overcoming Common Financing HurdlesMortgage brokers excel at tackling challenges that often derail new investors:Low Down Payments: Brokers can find lenders offering low or no-down-payment loans, ideal for new investors with limited capital.Complex Income Streams: If you’re self-employed or have variable income, brokers can identify lenders that accept alternative documentation.Competitive Rates: Brokers have the leverage to negotiate better rates and fees, saving you thousands over the life of your loan.Pro Tip: Communicate your investment goals clearly with your broker so they can tailor their search to your needs, whether it’s a short-term fix-and-flip loan or a long-term rental property mortgage.3.

But IRS allows an IRA to be invested in anything except life insurance and collectibles.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Unless the property needs work and the seller is desperate, you're not going to find a seller willing to do any sort of seller financing on their end. 

A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal.

When filing the LLC return, it is important to ensure that these liabilities are accurately reflected on the balance sheet.However, it's essential to note that distributing the refinance proceeds among LLC members could potentially be viewed as a taxable event if there is no intent to repay these amounts to the LLC.

Commercial is a totally different ball game than residential, so connecting with a commercial broker will definitely make your life easier.