Original cash purchase price plus all financing fees (closing costs and prepaid items).I'll be interested to hear how this goes for you.

I have been trying to do it "right" and use accrual, but thinking I may be making things harder than they need to be.Even with just a handful of properties, things are quickly spinning out of control with journal entries for accruing property taxes monthly (paid at the end of the year) and insurance (usually pre-paid and then expensed out monthly, but each property seems to be a little bit different).

. * Prepaid Expenses ** Property Tax Escrow ** ... * Property ** Accumulated Depreciation ** Purchase Price ** Building Improvements ** ...123 Main St - Liabilities * Current Liabilties ** ... * Long Term Liabilities ** 1st Mortgage *...123 Main St. - Income * Rental Income * Coin-op * ...123 Main St. - Expenses * Operating Expenses ** Repairs ** Cleaning ** ... * Non-operating expenses ** Interest ** ...You get the idea.

As a relatively new landlord, I was posting to gain perspective and to bounce my ideas off of a more experienced community for a situation I hadn't run into.In fact, this tenant pre-paid me the first six months of rent, deposit, and fees in a single check.

What about if you limit your risk with some form f prepaid rent or a larger security deposit?

The policy must be pre-paid for the length of the loan.7)Close on the property.

The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV, CLTV, and HCLTV ratios for the cash-out transaction based on the current appraised value).  

I ask because service members have access to financial professionals, pre-paid and therefore 100% free to service members, who directly addresses and assist with all types of financial situations. 

I know a lot of idiots who have a lot of money, due to their financial position, they believe they are endowed with knowledge they don't have.Private individuals can not charge points, points are pre paid interest to registered lending entities.Lending as a business requires registration and licensing in Mo.Not using your own personal funds?

The $500 has to be pre paid on one tab so it really complicates things, im not sure we are ready to take on anything like that yet.