Hi Eric,Great question—estimating operating expenses can definitely be tricky, especially for items like maintenance, CapEx, and make-ready costs that vary widely between properties.

I'm quickly learning that getting a mortgage isn't a simple task.

Eric, I hope that wasn't too simple of an answer. 

That being said, there is a shortage of rentals in the area so a simple post to Facebook Marketplace or join the Facebook group https://www.facebook.com/groups/ElkhornandWalworthCountyOnli... 

I have always dreamed of owning and operating multifamily rental properties ever since I was a little kid.My mom has been in realestate ever since I could remember, everything from being a realtor, fix and flips, buy and holds, and long term rentals.

Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

The properties we operate are all in Indiana. 

Other than that, you can prepare a simple notice letting them know that you thank them for applying, however they did not meet the criteria, and you can choose to tell them it was based off of their credit, and or background or simply just say that the minimum requirements were not met. 

Many companies have left the state entirely.Insurance is a simple math game. 

I learned from Dave, how to talk to potential investors, how to build rapport, how to answer questions and explain the company’s strategy and operations and the secondary mortgage industry.