You'll have to look at the income and expenses to predict whether your cash flow will improve.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

My idea is to put 20% down on a $1 million property, with the remaining $800,000 paid off over 8–10 years, depending on how much yearly income the seller would want.I’ve seen a lot of discussions about using seller financing for investment properties, but not much when it comes to primary residences.

I had to have Anderson re-do one of my LLC's from the other guys to save me money in annual state fees ..I look at it this way, as long as my business/investment income covers the costs I don't have a problem paying for reliable - worry free information and work.

I'd estimate that there are less than 1,000 legitimate, or "professional" wholesalers, in the United States of America, as defined by individuals who make $100K flipping contracts, and collecting assignment fees, in any form, and who have made that amount of income more than 3 years in a row.

What a great find, though - a single family turned into basically three streams of income, assuming you get an ADU permitted!

Last thought (mainly for future readers), you may be talking about the 1 year FHA history if you have variable income.

Be sure to: call & verify employment references, request pay stubs to confirm income & check rental history by contacting the previous landlords.Keep the momentum going!

Your cousin should contact the lender to discuss his options.If he rents it out, he must report rental income and expenses (e.g., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.

I live in Jacksonville FL and Just bought my first Duplex in Ashtabula OH.I have a licensed Real Estate Agent, Licensed Property Manager and two Lenders (conventional and Hard).To be honest this is to be my retirement.