This is true Jordan, assuming he has W2 or 1099'd his wife so she has qualifying income to qualify but most business owners dont usually have the foresight to plan this ahead of time.

The downside with the above is it requires great foresight and mortgage planning.

I would like to say it was my sharp intellect- deep foresight - and mastery of the market - instead it was timing and good luck - I was liquidating them to start up a new business that had nothing to do with real estate -  shortly afterwords the market came crashing down  - we did still own one SFR - the only SFR  I ever owned and it was completely underwater - we could not keep up the payments on it and it would not sell for anywhere near what owed on it - however we did leverage the heck out of it just before the sky started to fall so got some money out of it at least.

Something all to often in today's world that most lack (foresight as it relates to money).I am excited for you two especially for your wife and what her future opportunities will come to light now that she no longer has to trade her (valuable) time for money! 

what are some of the common pratfalls one can fall prey to when flipping their first home? I am looking to get more active in REI, and to move into rehabbing and renovations. What are some of the funding issues that y...

Big opportunity for people with foresight.

negativity in this world is far more common than an honest politician. when you are swimming up stream, you are going to find more hurdles and pitfalls than if you swan downstream. going downstream is easy, any idiot can do it. its those of us that swim upstream that have the courage and foresight to reach our goals. if all you wanted to do is just exist and go about life until you are dead, well, then follow the crowd and swim downstream. pretty soon you will find yourself just as unhappy and negative as they are, but comfortable because you are barely eeking out an existence with minimal work involved. sounds just a tad bit boring to me. those of us who are willing to swim upstream meet challenges, hurdles and negativity along the way, but we also have the biggest stories to tell because we have had some damn great adventures along the way. its not the reaching the goal that gives you the stories to tell, its the journey getting there. you can have the thrill of achieving your goal without the hell to go thru in getting there. that hell gives you some incredible stories to tell along the way, and if you wanna try it again, well, now you know what to expect along the way and the next journey won't be quite so hard. let those little people sit in their cubicles along their way and have nothing to show or tell about it in the end. i would rather have the journey to talk about when i get to my goals. 

It sounds like BS to me that a bunch of idiots like citibank would have any foresight on anything.

I'm networked with a fellow who does and he may be showing me how to do that soon.This necessitates acquiring a shelf corporation (unless you had the foresight to start one up a couple years ago) and giving it some time to build.

Having the foresight to buy in the right area at the right time really comes down to just luck.