Here's an example:I like to do mine in total and by property.I know I'll get questions about the debt categories.  

Think about it, if you are buying something at a 5% cap rate, but interest rates are 6%, the debt payment exceeds the income.

I use Stessa for accounting, I love it, it links right to my bank account/credit card accounts and I can assign purchases to different properties and units of the property for multi-unit properties and at the end of the year I have a simple report to give my tax professional 

@Chris Kay beleive you can do DSR loans without a job as they qualify the property, not the borrower.You'd still need 20-25% down though.That's where you have a decision:- Pay down the mortgage, setting yourself up for a future refinance to free up your VA Entitlement.OR- Save up for your next acquisition.Only YOU can make that decision as you have to be comfortable with the increasing debt-load risk and the additional time to manage everything.

Also, in order to get financing the lender wouldn’t allow SCI to dramatically overpay or they wouldn’t meet the debt service requirements.

I have found several vacant lots in my local area that I am interested in.  I have the information I need to send letters to the owners of said lots.  My problem is that I am unsure of what to write. Do I send a one p...

I always make sure that the properties are cash flow positive, but the large bulk of the money I make from them is from the other items (appreciation, debt paydown, tax benefits, etc). 

We talked to our accountant and she was recommending individual LLC's as well as individual checking accounts/credit cards etc..

What makes it tough in the beginning is your rental income is not established so you need to be able to handle the debt not using rental income. 

It has 5 years left of fixed debt remaining, which makes me feel okay about it.