There's also plenty of lenders who falsely represent the true capital requirements to originate their loans or are merely up front fee collectors. 

Structure as a commercial lease, 5+ years, annual rent escalations, requirement to carry liability insurance (name you as additional insured), etc.

However, transferring your current home into an LLC may affect financing, as most traditional lenders require it to remain in your personal name for a home equity loan.

For 2024, the annual gift tax exclusion is $18,000 per recipient (rising to $19,000 in 2025), and amounts above this require filing a gift tax return (Form 709).

Options - collect full payment for the 3 months up front and lower the deposit to secure against damages only, require insurance.

Its great that the seller is will to carry a note in a seller 2nd as well, that will help reduce your require monthly payment with the right lenders.

In the case of investors, they still require a 20% down payment, additionally there is a 2.25% funding fee because the REO was purchased under a VA loan. 

Personal usage will negate the losses from the cost seg in the first year, so we suggest avoiding it.

It also has a dashboard where you can see how far along you are with meeting the 750 hours requirement with at least 500 hours in material participation and 250 hours in general participation.

Avoid affordable (undesirable) properties that will typically have higher maintenance and vacancy, and buy A or B properties with less maintenance and better appreciation, which is where the real money is made.