In some instances the estimate may be less important but rarely if ever do I not see a requirement for no appraisal unless the value is 4x the loan amount.

., Profit & Loss statement, Balance Sheet)Credentials:No formal certification is required and may or may not have a high school diploma, but some bookkeepers pursue:•QuickBooks ProAdvisor Certification•Certified Bookkeeper (CB) from the American Institute of Professional Bookkeepers (AIPB)•Certified Public Bookkeeper (CPB)Caveats:Bookkeepers do not handle and probably should not handle tax planning, financial analysis, or compliance work.

This is not even close to the documents required for a properly drafted loan.

Most states require 27+ days of continuous stay before they are considered a tenant and not a guest.

Or does your financing terms require you to do something else (which is why we need to ask question #2).Maybe the original poster will respond as well but those are the 4 items I would tell you to uncover.  

Being able to use real estate to offset taxable income requires some sort of participation on his end.If he wants you to be the boots on the ground, it will likely be hard for him to reduce his taxable income.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

.- Creative Financing Solutions:Options like subject-to deals, seller financing, and syndications can lower capital requirements and increase your purchasing power while providing flexibility for properties with complex financial situations.4.

Considering most homes will not cash flow with 20% or less down, plan on 20% and most likely 25% down required - depending on the cash flow expectations. 

However, this means you’ll need to comply with the annual filing, franchise tax, and reporting requirements in both states.