$20,000 in Credit cards and car loans at 15% refinanced at 10% can save you about $100 in monthly interest, which can then be added to your principal payoff.

All of this motivation will stay the same but others may be added.

While this can certainly be true Kim (debt to income can degrade) some key points I'd like to point out to people who might be considering conventional financing and getting loans :- you can use rental income with no landlord experience - Fannie Mae (Freddie Mac requires min 2 years on tax returns or CPA letter to state 2 years exp but most CPA's will not write that letter for you to protect their license)- you can add back depreciation and other non cash losses like depletion or amortization as these items are accounting losses and lenders are concerned with the "actual," cash flow that you will have available to service their loan they are thinking about extending to you- you can add back capital expenses as well if you can document it (make sure to save all receipts and invoices =D) since this tends to occur with investors the first year that complete many capital upgrades. since these are not normal occurrences every year they may be added back to improve your income if the file is structured correctly.- If a buyer buy's property that is still positive after the formula (gross monthly rent X 75% - PITIA) then you will actually improve your debt to income not hurt it contrary to what most think.

Please send me your info if you would like to be added to the group and I'll text/email you when we put together our next gathering.  

Even if the power is out the codes still work.The issue would be adding or deleting codes.

No plans to rehab anything as of now - I’m no expert but property is in pretty good shape and not sure what value could really be added  

They then should be adding back in the depreciation and interest expenses.

Please let me know if you'd like to be added to my buyer's list.

Debt Service is principal and interest only, your "loan payment" without tax and insurance (although  a tax and insurances escrow payment may be added to and included with your monthly payment, tax and insurance are a separate expense, not part of debt service, as they would still be present if you paid cash, and had no debt service).

They need to be married for 2 years or more to qualify for 500k exemption. she does not necessarily need to be added to the title to get the exemption after 2 years of marriage.