Debt CAN be bad, but it is not per se bad.

I would get with the local REIA and se if they are doing anything to fight this and then join efforts with them.

That said, if you can find a position where there is no ceiling per se, then you can still achieve good income however you are going to have to produce good volume.Now, all that said, it is not too different for RE agents.  

There's no problem with it per se, as long as it cash flows really well, that's good enough.

Hello, was wondering if anyone could refer a quality contractor for a quick rehab project on a rental unit.I am in the Canton, Plymouth, Westland, Livonia area.Thanks!

I'll share this article with you: https://www.biggerpockets.com/blogs/10553/79631-se...Let us know if we can help as you take the next step!

@Brandon Hall From an accounting perspective yes that would be the "operations view," but from a lending and banking point of view the cash flow statement is the most important aside from the profit and loss statement since the earnings could be stored in current assets or accounts receivables and the turn time on converting that AR/asset into "cash," may be many days out.I guess if you're doing your P&L on a cash basis and this is only rental real estate then that could be used, however there are other deductions we add back that aren't typical that affect qualifying income such as .23 cents per business mileage (IRS rate for depreciation for bus. miles) claimed on line 44A of schedule C, home office use, we give the borrower back half of the SE tax since a normal wage earner would only have to pay half we try to put the SE borrower on the same playing field and more.

I am more on the metro-Detroit side of SE Michigan :)Brandon couldn't have put it any better.

I don't know if this means it should be considered vacant or not, being that I'm not actually living in it, per se.

Make sure you know where the leach field is in case you or your tenants want to dig.  2007 is a fairly new install so should be good.Look at this site for more info: http://privatewellclass.org/se...