Our financial support demonstrated our commitment to providing the necessary resources for successful real estate investments, enabling a smooth and profitable transaction in collaboration with our partner, Shannon Johnson.

Our financial support demonstrated our commitment to providing the necessary resources for successful real estate investments, enabling a smooth and profitable transaction in collaboration with our partner, Graham Lyster.

.)-- Interest Reserve TBD-- 500 Appraisal (est)-- Builders Risk Insurance Policy TBDTotal Cash to close: 29172 + 6 months payments (not in escrow but demonstrated)You will likely need to wait 6 months to refinance.

This approach demonstrates our commitment by showing we've done the necessary inspections.

This separation helps in maintaining clear financial records and simplifies tax reporting and financial management.Setting up an escrow account specifically for rental income within your LLC can offer several benefits:Financial Clarity: It separates rent payments from other operational expenses, making it easier to track income and expenses related to the rental property.Legal and Compliance: Helps in demonstrating that rental income is kept distinct from personal or other business funds, which can be important for legal and tax compliance purposes.Tenant Transparency: It provides transparency to tenants and other stakeholders regarding where rental payments are deposited and how they are managed.While it may not be a legal requirement in all cases, maintaining an escrow account specifically for rental income is a prudent practice that many experienced investors and landlords follow.

RMAI will add to the commentary from time-to-time when it determines that additional guidance on a Canon is warranted.CANON 1 – INTEGRITYAn RMAI Member shall always demonstrate integrity with others which shall be revealed through honest and forthright interactions with others, honoring contractual obligations, compliance with laws and regulations governing the industry, and adhering to the RMAI Bylaws, RMAI Code of Ethics, and as applicable the RMAI Certification Program.Commentary:A Member shall not make a materially false statement in, or deliberately fail to disclose a material fact requested in connection with, its application for membership with RMAI.A Member should only recommend companies for RMAI membership that the Member knows, through personal experience, have a good reputation within the business community.

Since you'll be relocating to Denver from Texas, you'll likely want to have work lined up in order to demonstrate monthly qualifying income as your ability to repay the mortgage. 

You would have to sue the HOA in order to recover any funds after you've sold the condo, and you would probably have to demonstrate that their incompetence and/or malfeasance created the large budget surplus that you should be entitled to; the money wouldn't come from your new owner, it would just be a judgement against the HOA.

If you can demonstrate a track record of executing on the business plan you set forth, the banks will continue to lend you money and as they become more comfortable with you, your loan originations will out pace your balance sheet.

As you just demonstrated.