Hi all,I'm trying to make sure I understand how a schedule E would work with the following situation:Five apartment units total that share the address 123 Main St., each with their own Apt. 1, 2, 3, etc. identifier on Line 2 of their addresses.

I did point out the other option was that they could continue paying the rent until the lease would normally expire and that I was doing them a favor allowing them to break this contract and they shut up about this "hassle" business.Gail

They explained to me that they are trying to liquidate their properties for a massive project.

So in my position, would I be best off growing my capital by other means but keeping it liquid to jump on opportunities upon a correction?

I don't have that kind of liquid cash, so I'll have to take out an equity loan on my primary residence.

However, if the occupant is a tenant on an existing lease, you'll need to wait until the existing lease expires before you can move them out.  

I mean I know what it is... but never heard that term before but I that's not unusual for someone of my computer literacy and online interactions.however if you have had a bad experience with a turn key company you should post it.There was a lady who bought one in Birmingham through a turn key company and it was a long thread on what poor service she got.. but I can't e mail and say hey you should put that on turnkey reviews.. can't force folks to do it..

If so, you could use your second from the first property to acquire the next property and refinance it to liquidate equity for the next one.

Wells Fargo won't give another extension due to docs expiring on Aug 19.

The only way I can currently see myself getting financing (without having to pay 10+% annually) is to save up enough to put down in order for my DTI ratio to be low enough for a Portfolio Loan lender to approve me.From what I've seen of Portfolio Loan lenders, they're looking at my personal income at 100% and then add 70% of my rental proceeds per my schedule E.