Most of his friends in 30s to early 40s are still working W2s and don't have free time to socialize with him.The other friend and her husband retired from corporate jobs in the Bay Area and live off his stock dividends and rental income around the age of 45.

Once that rehab is complete, and a few minor updates to the cottage house in back, the 3 units will be ready for many years of rental income.

My debt/income ratio is lower than it really is because I own alot of rentals so for tax purposes and depreciation, my taxes dont show the whole real picture.  

Can the leverage be paid down on an accelerated schedule w the income from the property?

What is the tax basis for the lot and what income tax will you owe?

What is your Debt to Income ratio?

I’d advise you speak to a CPA as well, different trusts bring along potentially different income tax filing results.The maxmimum income tax rates on trusts are also reached far earlier than they would be on a personal income tax return.Generally trusts and LLCs serve different purposes as well (i.e.

Potential income minus expected expenses.

According to the BiggerPockets forum discussions, here are some key steps for conducting due diligence when purchasing a self-storage facility:Analyze the financials thoroughly, including net operating income (NOI) and cap rates.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.