Not reported on credit.

Your cousin should contact the lender to discuss his options.If he rents it out, he must report rental income and expenses (e.g., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.

Quote from @Zach Edelman: If you do a DSCR loan and vest it in an entity - you and your partner can both PG the note and it will report to neither of your credit reports, thus having no impact on your DTI! 

It indirectly impacts the credit score, which would be included in either metric.

And you now have to file three tax returns:- partnership tax return- your individual tax return reporting 1/2 of the partnership losses- your partner's individual tax return reporting their 1/2 of the partnership lossesAnd while partnership return can be DIY-ed, it probably should not be.

I just learned this has now become a voluntary requirement for the time being as there is a court order to stop this reporting.

https://www.cpapracticeadvisor.com/2024/12/27/boi-reporting-..."

I've sold over 80 homes personally in the last 30 months and I'm usually within $5k of the appraisal report when I run my CMA for clients.

I have purchased the following books:ABCs of Buying Rental Property The ABCs of Property Management The ABCs of Real Estate Investing The Advanced Guide to Real Estate InvestingThe Book on Investing in Real Estate wit...

They will issue an IRS Form 1099 in January, reporting your total taxable income to you and the IRS.