When people were buying for example 2013 to pre-spring 2022 rates were lower and especially during 2019 to 2022 when rates dropped during COVID investors did really well.

And every dollar of expense paid/saved impacts your returns just as much as a dollar more or less in rent.

I haven't joined any mentorship programs for Multifamily however I was a part of Fortune Builders program about 8yrs ago and that wasn't cheap BUT it paid off in a big way. 

@Mike Arias  When you convert your property from your personal residence to a rental property, your basis is what you paid for the property originally plus renovations you do in preparing it for rental and minus the land value.

If after the funds are paid into the business account and my friend writes a check to their personal account from the LLC to get his money out, are there any accounting implications?

AND is there a primary residence already established or paid off?

If I paid $50 a room, that would run in the hundreds.

The rent has been paid this month but he needs to be gone by March. 

After all, I paid county taxes based on that.Or, if we were mandated to use the acquisition cost (195K), shouldn’t we apply the same percentage to it (as in 78% of the purchase price)? 

Speak to your lender about FHA requirements to ensure you qualify for what you are looking for and get a pre-approval letter that will help you get a competitive edge when looking for a deal like the one you have described.