In doing so, the “1% rule” often doesn’t seem to work.

@Ray Li Finding a SFR that meets the 1% rule is going to be very difficult in today's hot market here.

Vegas is obviously a different world/ballpark (those who bought at the bottom are up 100%+).However, none of these places are near the 1% rule on any property in these areas (if you were to buy today). 

Side note: is the rule that you have to take the property out of your businesses name and put it into yours for 6 months to do a refinance for real? 

@Steve Podwojski Going from a multi-member LLC to a single-member LLC does not spark an audit in and of itself as long as you treat it for tax purposes within the framework of Revenue Ruling 99-6, which is the IRS' guidance for this very situation.Are you buying out the other members for cash? 

I am not ruling out people that are located out of Wisconsin also! 

@Tom SmithLooking at it from the 1% rule, buying RE for $100k and get $1000 a month in rent?

The fourth lesson is documentation makes or breaks your investment.

I believe that your best bet would be to either 1) find an off/on market property that already meets the 1% rule which will be very hard especially in that area in today's market or 2) find a fixer upper and buy it cheap and force that appreciation.

Federal rules require a lender/servicer to consider a borrower for a loan mod if there is enough time to consider one, if the lender offers loan mods.