It also helps to have a "den mother" living on-site, who can help keep things under control.In our student apartments and houses rented as a single unit, we offer a "utilities budget" agreement as a supplement to the lease.  

Do any of you ever require any supplemental information from servers or waitresses to corroborate their income?

With 20% down at our max budget of $700,000 our DTI will be in the 33% range.The short term goal is to live in this house for 2 years, build a landlord history and eventually purchase another house in the area and use the original for supplemental income.

Some want to get out of there W-2 while others want to supplement there income and create generational wealth.  

You could supplement your 1031 down payment with some of those and purchase something much bigger.Kudos to you for planning ahead!!! 

I believe they have also managed the salary cap better so they don't tie all their money up in one position  When their players leave to go to the NFL they often take a pay cut, but with how the Crimson Tide back loads their contracts the players get that amount to supplement their new NFL salaries so it ends up as a break even.On a serious note....I'm very curious about this topic as well.

My issue came down to the fact that I currently have a full time W2, that I actually love and enjoy and the purpose to my RE adventure was to start securing additional income for my wife and hopefully family one day as well as supplement my income.

I'd like to get into real estate to provide some supplemental income while I attend school to get a Master's.  

I wouldn't be surprised if they recommend purchasing the property in your own name and then ensuring you carry high quality home owner's insurance supplemented by a personal umbrella policy.Good luck and if you ever want to connect about the Waltham market let me know!

So many of our users have been able to make a living or significantly supplement their income by becoming real estate entrepreneurs, and now interest rates have made that harder and even put some in a squeeze.We are looking for members to reply with how their Real Estate Investing Strategy has changed due to rising interest rates.How have raising interest rates changed your investment strategy?