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.

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.

The more I talked the more I found out how many people in my life either invest or are interested in investing.

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. 

Both situations work nicely.

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

Feel free to send me your preferred contact details or schedule a time that works for you.Looking forward to connect! 

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

Hi,I am planning on a potential 1031 (very early stages) and would like to see what the reinvestment goal would be to maximize the befits of the 1031.property I would like to exchange purchase price $515,000sell price est: $725,000current principle balance: $350,700Interest rate 3.25Current Mortage is $2300 and it rents for $4000.