Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Setting rent significantly above FMV could be seen as an attempt to shift income or inflate deductions, leading to potential penalties.

My plan is to funnel the rental incomes from all three properties, along with my W2 income, back into the HELOC while covering all expenses from it as well.

I ended up with 12 properties and 20k/mo in income after they were paid off.

Wyoming has no state income tax.4.

Quote from @Leo Gregoire: I'm assuming you werent taking 15% of gross off the top for cap ex, vacancy, and maintenance? 

You may be required to make estimated tax payments when the property sells.It depends on what your 2024 total taxes due were and 2025 estimated total taxes / withholding / estimated payments are.If you pay in atleast 90% of the current year tax or 100% / 110%(Depending on 2024 income), you are normally considered good.You may want to consult with an accountant for more clarification.

Median incomes are an insane gap from cost of household/properties.

These loans are based on a property’s rental income rather than your personal income, making it easier to qualify as you expand your portfolio.Networking and Mentorship:You’re already off to a great start by reaching out here!

Ultimate goal is good cash flow to enhance retirement income.