See what kind of leverage you can get, and what resources they will require from you. 

We've been very friendly and respectful to each other, and just don't want to ruin that kind of tenant-landlord relationship.

I’m happy to guide you through the process, share some success stories, and help you avoid common rookie mistakes. 

Lender - "What kind of rates are you guys seeing on DSCR lately?"

Basically common contract or agreement law.

Buy and large I manage these rentals and we think of it as my side venture, not his.i already have the LLC but my tax guy won't file the rental in the llc because he says I need more than one rental and probably a Different kind of business entity.

This kind of legislation discourages good investors and people who enjoy coming in and helping to stabilize communities.

On the bright side I think many of the scammers that sell you on owning 1000 units are being wiped away and maybe that kind of an opportunity will come back. 

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

This is a very common way for people to investing using their retirement accounts.