The IRS cross-references your 1098s with claimed deductions, raising concerns if discrepancies arise.Private Lenders and Forms 1098: Private lenders are required to send Forms 1098, but only if they meet specific criteria:The private lender operates as a “trade or business,” distinguishing professional lenders from casual lenders like friends or family members.The loan is issued to an individual or a disregarded single-member LLC.The loan is a mortgage secured by real property.The annual interest paid on the mortgage was $600 or more for the previous year.The conditions leave some room for interpretation, particularly regarding the “trade or business” clause.

I'm doing some work for a client who is looking to do the same, though not specifically near the Clinic, as you can reach people at any of the three health systems without being directly near the Clinic.

I too have wondered about connecting with a mentor in this space and what those who are more experienced would suggest for getting started specifically in the market which I live.

I am aiming for a home between 150-250k, which i can afford if all hell breaks loose, at a 5% conventional 30 year term loan (unless a lender or someone else can suggest me a better loan) My question is what are the minimum requirements for obtaining such a home (capital wise, credit score wise, salary wise) Who can i specifically talk to for these numbers and help me understand tenant demand, areas, and more specific information about my market?

That market is every bit as mature as others; supply has also increased drastically while margins have compressed, but you don't have to be as good to succeed.

The cashflows is also really solid and gives you a margin of safety in case there are any repair issues in the future.

Memphis is street by street and I am happy to share insight on specific pockets I would stay away from.

lol we thinks the same ....there was a deal of century dec 2022 a 3/1 for only 950k...i didn't get it lol FWIW he's also very concerned so unless he can find some serious margins, he's gonna park the cash too.

Fix N Flip the margins are difficult with anything I’ve ever come across personally.

looking for gross margin on flips, Brrr’s, price point pretty irrelevant.