Such an agreement should detail how rental income and expenses will be split to avoid discrepancies and comply with IRS regulations.It's essential for both cousins to adhere to IRS guidelines, which require accurate reporting of rental income and expenses based on ownership percentages.

To ensure compliance, it's important to have your IRA custodian review the loan documents to confirm that the carve-outs align with the IRS guidelines for IRA investments in real estate.

But knowing what you are doing should be a part of investing anywhere -otherwise it is gambling and not investing. 

Investors are increasingly expanding secondary mortgage underwriting guidelines to allow borrowers access to their equity positions and reserves. 

Most guidelines state minimum 1 year but in practice when these applications come in I've seen that 6-12 months with a reasonable explanation can be done easily.Now some times in rare instances with exception I've seen buyers get approved even under 6 months.

So they have expanded their guidelines to include source of income.

We found more and more issues wrong with the property like the plumbing and state guidelines.

Also, DSCR lenders have lowered cash out loan to value guidelines, so cash out to 80% LTV is very hard to do.Personally, I think the best way to add real estate is if you can buy a new primary home every 1-2 years. 

Read our editorial guidelines for more information.After a decade of relative stability in mortgage rates, the last few years have seen unprecedented volatility and changes in mortgage rates.

This ordinance is significant for its comprehensive approach to addressing source-of-income discrimination, particularly in the context of housing and rental opportunities.Key aspects of this ordinance include:The creation of a $1 million Landlord Risk Mitigation Program to financially assist landlords who accept tenants with vouchers, such as Section 8.Establishment of a landlord liaison position within the City’s Housing Department to facilitate communication and support.Landlords are allowed to deny rental applications based on individualized assessments, such as criminal convictions, credit scores, and eviction history, but the ordinance also sets clear guidelines for what can and cannot be considered.It includes a delayed effective date, allowing time for landlords and tenants to adjust to the new regulations.The ordinance also specifies that certain properties, particularly older houses that cannot easily comply with current codes, are exempt from some of the source-of-income requirements.The guidelines provided by Kansas City's Ordinance 231019, detailing what can and cannot be considered in rental applications, include several notable points aimed at balancing the rights and concerns of both tenants and landlords:Individualized Assessment Allowed:Landlords can deny rental applications based on specific, individualized factors, including criminal convictions, credit score, eviction history, alleged damages, and rent-to-income ratio.