Investment Info:

commercial investment investment.

Purchase price: $345,000

Cash invested: $1

2 year value add turnaround project in Macon Georgia put together as a Syndicate. New Roof, All new Doo...

It's a small unit motel will you self manage this property?

Will I pay self employment tax from any profit on this?

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Using the refi as your normal business practice to purchase additional real estate is one of the defenses if it is called into question. 

turn key and self manage What was the outcome?

"To buy a new house" wouldn't by it's self be a reason to qualify.

Good questions to start with @Kyle Jey - this gets my wheels spinning.I will self-manage and I live very close.Landscaping, snow - these are not factored in besides the maintenance percentage (5%) I listed in my post.I have no idea if the place needs rehab; all units are currently occupied and there are no images of the inside.Closing costs - hadn't thought about this; would attempt to roll into the mortgage payments - maybe $100/month extra?

Unfortunately, we've been self-employed in a non-real estate industry for a LONG time now and we couldn't document our income in a way that was sufficient for our lender - so we did a cash deal instead.I thought the equity in that property and in the home we own outright (about $256,000 in total equity) would be enough to reset the conversation for our next deal, but our lender says existing equity will always be overshadowed in our situation by documented income (or lack thereof.)  

Many people self-manage, and others hate it and make sure they have the cash flow to pay someone else to do it.