Hi William,There's a lot of mis-information on this topic, usually promulgated by lenders with hidden overlays pertaining to rental income, that's then repeated by others, including in this thread. 

Just search on BP for appreciation vs cashflow for lots of discussions pertaining to this topic. 

What we couldn't find were the actual laws and definitions in the law pertaining to our direct issue of this puppy, who currently has no other training, is seen as a service dog in the eyes of the law. 

So, being that a business is more "RISKY" then someone who is going to live in the house or just rent passively, especially pertaining to newer business, a lot of banks will give crazy rates to offset the risk.

Bill Noll's operating agreement for real estate investors and counsel for one year pertaining to questions on the LLC and operating agreement is only $995; I believe it's well worth the money.Hope this message gets to you or at least helps someone else.

One last question that pertains is how a HELOC is figured into the DTI formula... for qualifying purposes, do lenders use the maximum payment and interest rate (ARM) that would be possible on the loan to qualify a borrower?

For your inspection make sure that your contractors and inspector are knowledgeable about Old Louisville specific requirements as it pertains to the exterior of your property i.e. box gutters, wooden windows etc. as this is a designated historic neighborhood those items will need to remain and be maintained.

Pertaining to the vacant properties...

And to piggy back on @Rip Rittell's comment, this coming Tuesday will be one of the best topics and speakers you could ask for pertaining to this topic because one of our top local, investor-specialized title attorneys is speaking on lease purchase, owner finance and bond for deed, which are all strategies that can be used to facilitate step 1, the "B" in BRRRR with very little to even zero of your own money down to acquire the property.

Hey gang, I have a question to pertaining to the business side of REI.