They can renew as a couple, or one of them can leave and the other renews as an individual.

I'm worried I won't be able to take out a loan amount that's big enough to purchase another home in LA/OC if I already have a 700k loan...I know that the home prices in LA/OC are outrageous, but I've heard numerous times that I should invest in areas where I live close by.

To search properties individually, you can check out nyc.govHope this helps!

An individual making $60k a year+ will bring less problems (markets may vary).

Hey Sam,I think we all know that it is different for each individual.

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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

@Samir KhoslaWe have a revocable trust and the LLC is owned by the trust and managed by me as the individual.

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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

Can be individual name or LLC .

Keep in mind: For the 2024 tax year, individual filers won't pay any capital gains tax if their total taxable income is $47,025 or less.