A terms sheet will tell a pro whether you know what you're talking about and give them a structure of the deal you propose, but it won't establish credibility with respect to your financial ability to pull off the deal.

For the lease, can you list the girlfriend as an occupant rather than a co-tenant since she won’t be a financially responsible party?

The FBI’s Financial Crimes Unit investigates these matters for filing of charges on Equity Skimming violations.

However, they approach financial health from different angles.The 50% Rule is a quick estimate that suggests operating expenses (excluding mortgage principal and interest) will roughly equal 50% of the property's gross income.The DSCR is a more precise calculation (Net Operating Income / Total Debt Service) that determines if a property generates enough income to cover its debt obligations.Deal example:- Class C middle class neighborhood- 4bd / 2ba single family house- ARV: 190k- Purchase: 105k- Rehab: 35k- Market rent: $1,400-1,525- Section 8: $1,475- Property manager: 10%- Taxes: 125 month- Insurance $1250 yr- HOA: $55 month- purchased and rehabbed with all cash.

It's an exciting journey that can offer both financial rewards and personal satisfaction.

What are your thoughts on its potential to deliver financial freedom quickly compared to traditional real estate investments?

Prioritize your financial stability.

I encourage you to define your financial goals, as real estate presents numerous possibilities.Building a strong foundation of knowledge and connections can significantly impact your success in real estate investing.

@Jacob HavlovickBigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Thank you for the financial breakdown!