If he doesn't move out you have to go to your county precinct office and file for eviction, at which time they will give you a court date and a constable will notify your tenant of the court date.  

He liked the idea so we created an LLC and a partnership agreement and he deposited 100k into the business account.

That means an 800K purchase and a 200K rehab (1 million invested) can result in a 400K tax credit that results in 360K CASH back in the pocket of the investor.  

If you don't already have boots-on-the-ground and a trusted network, it's going to be tougher to do.

Put in about ten grand and a summer's worth of weekends in sweat equity and the deal is very sweet.

I have a contract on a house in Phoenix AZ with a value of $500,000 and a mortgage of $288,000 to be taken subto.

DFW is a very big metropolis and as such not all the markets within the DFW are going to work.First of you have to answer the following questions:- Where are you going to work?

Like Having a great base of index funds and a fully funded IRA before throwing savings into crypto or the newest AI quantum-powered dog walking business! 

Hi Aaron - check out our lender page here on BiggerPockets - you can see info and a long track record of strong reviews: https://www.biggerpockets.com/business/page/49Also, sharing links to the 10-Part Article Series we published here on BP on everything you need to know about DSCR Loans - we are fully committed to transparency and providing info/guidance to the BP investor community!

But, it's very commutable, and a lot of people working in Reno (especially South Reno) actually live in Carson City because it's cheaper.