I spent countless hours analyzing economic data, home prices relative to average household incomes, crime stats from the FBI, school quality, etc. for the entire northern California region before identifyinf Elk Grove as underpriced.And then I saw BP and you guys posting about values in TX.

Legally, business purpose loans as these are pretty straightforward.If you are talking about making second position real estate loans for personal, family, or household use (HELOCS for example), which many above seem to be addressing, then DF, the Safe Act, RESPA, TILA, and everything else applies and you'll need the full complement of Broker, MLO, and NMLS licensing.

Your thoughts and suggestions would be greatly appreciated.FYI: we will be still working on our current jobs with the annual household income $120k and would like to have enough money to support our two kids when they are in college in next 7-9 years from now.Thanks,Petalpha.

We will be a dual income household in January - She just got out of school.

- A 6-plex apartment complex with a ~500k price- For rental purposes, I would not occupy- This is my first home-buying ever ( I rent myself)- My credit is Excellent (750+) and salary is 100k+ range (household 200k+)- I can put in 10-15% downThanks for the help.

Lending guidelines say 43% debt to income ratio, so if no other debt, a factory working household can spend $2200 a month on a house. 

You will meet with each household and introduce them to your management style and written rental agreement.

Also note: My credit is steadily going up, I will be at a 700 in no time, I don't have much of a savings, but I do make small deposits bi weekly to keep a trail that I CAN save, and no huge debt ( just a small secured CC ) aside from normal household expenses/bills.

Sorry if this comes off as blunt, but...I wouldn't get into this type of situation with a family member, unless you're willing to risk the peace in your household. 

Demographics are at least 50K town population; less than 17% poverty; median family household income 35K+; Geographic region: TEXAS, OKLAHOMA, KANSAS, MISSOURI, TENNESSEE, ALABAMA, GEORGIA, NORTH CAROLINA, SOUTH CAROLINA, FLORIDA.