To get a W-2, you would need to form a C-corporation, make yourself an employee, and have the corporation pay you while also withholding income taxes, FICA, SUTA, etc.This leads me to a more simple plan: if you insist on an LLC, you'll have to report the income on your personal return, so a bank will see the income anyway.

:This is part of why I insist your first deal better be a damn good one, contrary to BP repeatedly claiming that it doesn't have to be. 

---So, insist on them providing the rental application and supporting docs for your review.

Maybe I should be more  specific.I know what equity is.But I seen some videos of youtube where the speaker insisted the importance of 90%+ equity is crucial.So that is why i asked the (general) question.

.- The program insists that you have an attorney review everything you do, they inspire you to get out of your comfort zone and achieve success but are fanatical about making sure you stay legal- They operate by Christian standards, empahsize the discipline of giving back, and inspire us to never sacrifice ethics for success.

I was curious what one needs to be concerned about should the buyer or seller insist on this but since I haven't even used one of my own yet, I suppose I wouldn't have a preference anyway but did you still run the contract for the condo and the (almost) seller financed deal by your attorney or title company or in the case with the seller's lawyer, if they are closing a real estate transaction are they neutral in their involvement?

I looked at them and said well you just sold your house for 10 bucks. plus debt.. this house had equity,, I would only be to houses with equity.. they insisted they were duped..

Usually high cap rates reflect the market's insistence that investors be compensated more for the risk they are taking.Another error is new investors going to high cap rate markets because they compare those markets to other markets - but they neglect to look at historical cap rates in the markets they are investing in.If one market is trading at 6% and another is trading at 9% right now, when Market A returns to the historical level of 8%, Market B is not going to stay at 9%.  

Some wholesalers insist that money should be paid directly to them.

When I was ready, I emailed and they insisted on a phone meeting, where for an hour they tried to convince me that I needed a coach and that I should spend a bunch more money with them.