Unless you revise your plan and ensure that your personal use is under 10% of the rental use.

I use a schedule E and do not have an LLC or business name, so can I purchase the vehicle under my personal name and take section 179?

@Ryan WasherHey everyone, I'd be interested in attending an in-person or virtual meet up also.

We have done it both ways where we fund purchase and they cover rehab but if the individual is less experienced we do not do it that way, we have them put more money into the deal from the start and fund the draws, reason why is we also had a deal where the person said they would do this and never did anything and property sat and loan matured and it was a pain.Just recognize you will still not get 100% financing for the purchase, so you are putting money in up front. 

She is not in a position to lend a personal loan to me. 

The concern with the DSCR loan is that I need to make the property present as though it's rented to individuals during appraisal (tough since it's a working rehab facility now) and must create another lease that shows the tenant as personal and not a company.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

If you are sole member LLC you just take a distribution from your business account to your personal account.You are likely already reporting the income on a schedule E.

So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well.

I think this is the method I would like to go as it fits in line with what I envisioned.