I have the same as well.However, I don't know what is the max I can borrow...

I have some $ to work with and plan to have my first deal under contract within 3 months max. I

If so, and your investor is looking to fix and flip, tell him what the repair costs would total out to be, which sounds like 10k max, I heard here on BP that's a rare number for repair costs but I guess it's possible.

Make sure to compare properties with similar square footage (the max I typically go is + or - 20%) 4.

Using the formula above I would take350x .7= 245-100 (reno just using numbers) = $145k which is the max I can offer for this property correct?

.$4,600/mo Income * 41% = $1,886Minus monthly debts (car, credit cars, college, HELOC) = $817Left over = Maximum mortgage payment (PITI) on a new property $1,069That is even assuming your rental properties are break even - if you report a loss on your schedule E it will take that amount out of your income.But if your car and credit cards were paid off your monthly debt would be $325 so your PITI max is now $1,561 which equates to the ability to buy about $90k more houseI also recommend during this time looking at your credit report, fighting and late payments or bad remarks so that when you are ready your credit it as best as can be

@Joel Owens I know Brandon Patrick well from our days together at RE/MAX. I

The max I would think you could expect would be $50 but you can ASK.

@Ahmed Porter The max is $57,500 annually, but much of that is profit sharing and can only be contributed at a rate of 20% of profits.

(btw I'm not an accountant, CPA, or tax pro, I've just seen this done personally).Yes each truck we bought was a very nice 100% sect 179 write-off against income.But the max is now down to $25,000.