@Falgun ChokshiIt is very important that you make sure you take the time to interview and have candid conversations with a PM company.

Approximately 0.00% of my clients with $3,000,000 or $5,000,000 in personal mortgage debt have the day-job income to support it, half of them had a conversation with me where I went over what choice to pick for Schedule E in cases where your CPA gives you a choice between a few options that are all allowed by the tax code.If you are buying cashflow positive real estate, your DTI will actually go down over time.

If this sounds interesting to you I'd love to go into a deeper conversation via PM or you could continue it here. :) I will send you a connection request!

Here are some recommendations for you: Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

I remember having conversations with distressed homeowners going through divorce and looking to get rid of their property.

The potential for conversion from a 2-family to a 3-family is appealing, but this is never a guarantee so you need to assume it will stay as a 2-family.

Your first step should be a conversation with the occupants to inform them you are the owner of the property and they must vacate as you are having it totally rehabbed.

In theory, you could continue doing this forever, but that's a separate conversation all together.

Best advice I can give you is have an honest conversation with your friends.