Multi-Family may require more maintenance (Con) but that cost may be offset by installing a coin-operated laundry room (Pro)3.

Did you create an LLC for the purposes of operations and management, i.e. book keeping, income/expenses, etc.?

Hello BP Community, Why is P&I / Debt service included in NOI and not factored into operation expenses when adding up GOI ? 

Real Estate has always been a goal of mine since getting out of high school 2 years ago, however I never knew how to get started or what field would be most suitable for me.

Successful wholesale operators spend $10,000 per month and up on marketing /lead generation5.

So my plan is to form the LLC later and just take the risk of operating without an LLC and just have landlord insurance and umbrella insurance to start out.

You need to be a strong value add investor and a strong operator. 

The HELOC is not the same as a conventional loan so they don't have anything like mandatory escrow accounts.When you say non-owner occupied, if you can get a HELOC on investment property, and I know Regions Bank does this because I went through them to get mine and found they will do a HELOC on investment properties, then you would be paying the investment off with the equity via a HELOC.

Mine are more complicated due to 6 properties and some trusts and other investments and I went to the same accountant I have used for 26 years and I was happy.

Hey @Inigo Alonso Gago, I hope you are finding success in my home state of Minnesota.Obviously govenment-backed loans make real estate operations more profitable in the US, but if no profits were possible in Spain the entire rental market would collapse.