The 50% rule states that approximately 50% of EGI will typically be consumed by operating expenses.While the 50% rule provides a quick estimate, actual expenses can vary widely depending on the property type, location, age, condition, tenant mix, and market conditions.Here's an example: if a property generates $200,000 in EGI per year, the 50% rule suggests $100,000 would go towards operating expenses like taxes, insurance, utilities, and property management.

This may require providing extra documentation such as 12 months reserves, 12 months of mortgage payments for both the rental property and primary address.

Can anyone provide advice and steps to moving this forward?

Here is an article that screams doom and gloom, but provides a more detailed look.https://www.sltrib.com/news/ho...

Hi Gabriel..I've been in and around loans since 2003..we work closely with our lending partner that actually can provide HELOC or fixed second loan using a variety of income including bank statements..I think you can go up to 80%-85% on a primary using bank statement on a second lien position.

The info I've found online on FIRPTA is a bit unclear, so I'm hoping someone here at BP will provide some clarity. 

It is important to make sure the lender will allow different insurance providers for flood.

Hello, Mark Svendsen, based on the information provided, here’s my analysis and some considerations regarding the trustee's decision and your options:1. 

Already started a couple brief discussions on it with some turnkey providers, but would like to get as much research done as possible to understand the markets there.

we use property preservation companies and they charge anywhere from $20-$50/photo depending on quantity and location.also provide you with a report on the property as well.