I would disregard it in the calculation.  

If it is a single person llC, it is a disregarded entity for income tax purposes. 

If you were using a third party property management, you would still receive the rents and pay taxes on these rents in your LLC (or as pass through on your personal taxes in case of a disregarded entity).When you own a C corp that is doing the management, that is the same principle.

For 2016, the penalty for "Intentional Disregard" (note - this means you) is $530 per form that you should have issued and did not.  

I disregard what they are asking for the property.  

At 125k, I pass.If you rent out the other side at $1,250.....after 50% rule, you've got $625 monthly. 120k mortgage will be roughly that monthly.So you'd have no cash flow, even completely disregarding the 50k you plan to spend on renovations.I know this is rough and dirty, but there you have it.

I totally disregard the glowing social reviews and only look for negative reviews of substance.

These would all be disregarded if you’re the only owner so you could pay them personally as well in the form of a loan or capital contribution  If you’re not the sole owner you really want the cpa involved and maybe a lawyer. 

If you have a "holding company" that is a single member LLC disregarded for income tax purposes that owns another single member LLC that is disregarded for income tax purposes, then essentially, you may as well hold the properties under your name for income tax purposes.If you have a C-Corp that is a "holding company" you may or may not fall under the "Personal Investment Company" rules for income tax purposes.As mentioned - it's best to talk to both to get the what you want from both a liability perspective and a tax/accounting perspective.

What i meant was that the new parameters that have been set forth starting June 2013 on the highly leveraged FHA loans will disregard your ratios moving forward since the mortgage insurance will be mandatory for the life of the loan.