If you are already working with a broker please disregard my ad".

Your assumption about the NOI disregards vacancy, which while it is currently occupied, will eventually become unoccupied and you will spend 1-2 months touching up interior and re-renting.

If it was me, I would open a joint LLC there may be better tax benefits since you won't be considered a disregarded entity and when you are both interested in getting your own LLC then open it. 

Otherwise, you just may have to disregard the rental income and prove you're otherwise qualified to take on the mortgage of another home.

Re: Disclosure of RE LicenseIf our guys are also licensed agents, we add their license # and a disclaimer to our pieces:"If your home is currently listed or you are a buyer represented by another real estate agent, please disregard this offer."  

Disregard.

Although I wouldn't disregard anything on an independent report, If you would like for someone to go by there, I could arrange.I'm not sure a roofing contractor is needed.

To them it's just a business checking account titled in the name of a trust.Of course, I may have totally misunderstood your situation, in which case feel free to disregard...

But on the final settlement statement, it shows that the amount I sent to the title company was $110k (let's disregard the title/escrow fees, etc., for the sake of argument).Case 2: I draft the purchase agreement at $110k, and in that contract, I state that the seller will pay off his $60k lien at closing.

If not and you are in fact looking to flip, disregard my response below...I can maybe understand why this agent proposed the agreement as such, but don't agree with it.