This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

If I read the story correctly, your client did not report rental income.

But in my experience, you would be better off spending that same amount of time/hustle working a second part-time job with guaranteed income, then investing in buy-and-hold properties. 

You have come to the right place to explore different ways to generate passive income.

Income: Verified monthly income must be at least three times the rent (minimum $4,200 combined).

@Alec Barnes we use Debt-To-Income Ratio (DTI) instead of income = 3x rent.Reason?

Different lenders can view income in various ways depending on who you speak with.

So lets say you own a home with $100k in equity but have zero income.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.