Make sure you know the impact that adding an ADU will have on any rent control. 12) investors seldom include the land value in the overall ADU costs.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Upon "googling" I see where some folks include Debit Cards as not having to send 1099's, but I want to be certain.A lot of contractors lump their labor and materials together.

Of course your other debts including student loans go into the mix to come up with your total debt to income but the income needed  is a lot smaller then a lot of borrowers in your situation tend to  think.  

This included modernizing the kitchen with high-end appliances, upgrading bathrooms with spa-like features, and adding hardwood floors for a luxury feel Lessons learned?

My team and I are also out-of-state investors, including a managing partner who was born and raised in Toronto.We’ve been investing in Cleveland for a little over a year now and currently own 22 units in the area.

A real estate lawyer can help you navigate the specifics, including ensuring you don’t inadvertently trigger any unintended tax consequences.A few tips to consider:Check with your mortgage lender: If there’s a loan on the property, transferring it to an LLC could violate the loan’s due-on-sale clause.

Not including closing costs. 

took down 6 walls including a load bearing wall. 

Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.