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.

I have already been fully qualified for both the line of credit and DSCR.

what makes you qualified to pitch someone if you don't even have confidence in yourself?

If you need to qualify why you're doing something, you probably need to disqualify yourself.

If you do not qualify for a conventional loan, DSCR and HML are the two commercial options available.

It doesn't count if no one can qualify being there.

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Some items typically needed to qualify for the loan are the following: 1.

I sent an invite to a prospective applicant that qualified and Looked high and low for the invite form with some additional notes to the applicant only to find out that it is not even on the platform at all, anywhere but in an email confirmation I received.