If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Hi Dominic, thanks for the detailed response.

Thanks for the response Kyle and Josh.I have updated the description and focused more on the amenities and fixed the wording of the sentences.My parents currently live in the other half so potential tenants are directed to set up a time with them.

Simplify the structure as much as possible, have clear roles and responsibilities that are not overlapping (meaning only one person is allowed to make certain decisions) and a clearly defined exit plan.

And if you go under contract as an individual, can you then JV with another investor or is it too late?

I believe it is completely reasonable to have a clause in your lease that places a cap on utilities with any overage (proven by a bill) being the responsibility of the resident.Our clause states that any electrical bill (we don't have gas, and water has never been a problem) that is over double the same month's bill from last year will have the overage assigned as a fee.It is important to keep your bookkeeping straight if you do assess a fee.

As a license agen, you will have a fiduciary responsibility to tell sellers what their property is actually worth. 

I'm still in the process of finding an alternative solution but I thought I'd leave this here as a warning for others looking to make a decision.For reference, I'll just post their email response to me here:As we review your inquiry, we would like to remind you of the following key points from our Terms of Use:In no instance shall ShinePay be liable for any of the following:"Lost revenue from service interruptions.Lost revenue stemming from delays, malfunctions of any product.unauthorized gains access to your account or due to shared passwords or if your password is hacked.Destruction to properly, places, or personal injury resulting from the installation, misinstalling, or misuse of any product.Lost revenue from entering the wrong account number for ACH or other bank transfer or money transfers or due to any delay in receiving funds.Damage to your structure, machines or car resulting from use or installation of our products.Any funds collected that are paid to a person that does not own the property.Any harm from defeating the lock and technology that controls the lock to a device.Failure to properly service any product or machine."

Individuals are purchasing these properties, rehabbing them, and raising rents.

we did this a lot pre 07  in that year Oregon WA and then CA made laws that had lots of teeth about dealing with those in foreclosure.. so we just stopped doing it risk was not worth it.I cant see how an individual can do this really..