I have a savings and checking account for my llc, and each property, all under the same banking app.

I also wanted to inform you that I also have a Roth IRA that started since 2020 and recently opened a High Yield Savings Account(HYSA) in 2024, thus I also have some questions regarding this matter as well:Here are the following: 1.

Condo's are generally bad investments, and unless you feel like tax "savings" are the saving grace for it I would step away.

You would need substantially more money saved to do well on a flip I think.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

I financed this deal through a private lender, which provided the flexibility and speed needed to close quickly.

I financed this deal using a combination of cash and a private lender.

Hard money lenders, traditional lenders, private money lenders... 

Our sneaky duplex is a cozy, private guest suite tucked right inside our home.

I listen to people who are doing what they are saying, with their own hard earned savings.