How much income do you need, and how much do you want?

Vanessa, If you choose the seller financed route, you could potentially continue investing under the bank's stringent debt-to-income radar, so to speak.

The banks thought I was a dead beat because of my debt to income ratio.  

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

This policy will provide additional coverage above what your existing policy covers.

I am aware that since I’m renting one unit out I need a landlord policy, but can my policy be HO3 or does it have to be DP1? 

Virtually everyone lives somewhere especially true for those that pay taxes (in CA property and income tax).  

Those policies that weren’t forced on the plan of last resort, the state run California ‘Fair’ Plan are significantly underinsured.

I am seeking mentors and or guides to help me invest in business that can eventually help offset W2 income tax.

How would an umbrella policy protect against a security deposit related claim?