Also, if my goal is to purchase a multifamily home - live in one side and rent the other side - do they (and if they do, how will they) include the potential rental income into the mortgage if I don't have a property yet chosen?

The numbers in the tool are as reliable as the data chosen to perform the analysis, and that is up to you, not the software.The tool currently uses Zillow data to suggest a number of comps for you, however you still have do the work of verifying their suitability for your analysis.

So for this method, I have chosen the route of rental properties.

Some of the PROS include:- Speed of the payment (Zelle is nearly instantaneous)- Most are free (both Cozy and Zelle are free)- Not having to pickup checks or deal with excuses about checks getting lost in the mail - Not having to go to the bank/ATM to deposit checks or money orders- Not having to worry about bounced (NSF) checks- Payments can be automated so tenants and/or landlords don’t have to do anything after initially setting it up (the payment will just automatically transfer on the chosen day of the month each month)On the other hand, some of the CONS include:- Speed of the payment (This was also listed as a pro, but I wanted to point out that with some of the services - like Cozy - it can take a while for the landlord to receive the payment.

Give it some time and them move to another market if the first one doesn't prove promising, rather than focus on several at once.I've managed to network via friends, friends of friends, or work acquaintances into a trusted realtor in my chosen market who could jump start things. 

i'm looking for the forum's advice on the most efficient/effective way of weeding out properties. i'll be living in the property for at least a year. while i live there, i'll be living in it (so property can't be a complete rehab), fixing or improving the property, and then either flipping or renting out the property. i've looked at about 18 properties the past 3 weekends (i just started 3 weeks ago). the 18 properties were chosen based on 2 broad criteria: 1) based on pictures, description, and google street view, choose properties close to the metra (in illinois), in a location with a great high school (>=8 score), and in nice(r) neighborhood.2) look at zillow for an idea on property values in the neighborhood so that i'm not buying one of the most expensive houses in the neighborhood. if i feel the house i'm looking at is somewhat undervalued because it needs work and there's some room for me to flip, then house passes.this criteria has helped me weed out 100's of properties, but takes me a bit of time.i'm curious, is this a good start or are there other ways that the full time/professional investors use?

Unless your area has a special rule, our property mgmt team accepted the first qualified applicant and notified the other applicants that they were not the ones chosen and told them that their application would be kept on file for future available units, or informed of why they did not qualify.

Her edge for me to consider her over others is that she can offer higher and stable rent, but I need to verify if her higher rent is including utilities ASAP; she asked me to increase my asking rent to what she’s allowed from section 8 if I can provide her a cooking stove, and to install central air which I’m considering anyway.And what should I tell my other turned down qualifying applicant without any discriminating element that I might not be aware of if they ask for the specific reason after I’d told them that I’d already chosen a financially better qualifying tenant over them?

Jeff88, while that is a good call, it is important to understand that many people see Real Estate as a much higher risk investment and simply don't have the knowledge or the cash flow to feel comfortable with it.Some of these business models are in realy excellent for cash flow while also allowing people the time to then get into real estate.In any event, I would suggest that people don't have to 'choose' between such a business model and property investing - I've chosen to do both, as well as running my construction business.So while the point you make is valid, the broader concept is that we use our cashflow (whereever it comes from) to invest in property, to build our long term wealth.

That is a sure fire way to open the doors for leagl and financial liability as any competant attorney could "break the corporate vail" by proving the entity and you are one and the same do to the funds being comingled.Always use an experienced RE CPA and attorney when setting up and operating a RE business, regardless of the entity chosen.