I just find it hard to believe people pay that much in taxes for so many politicians to spend their money.

His home so much I dont believe his working anymore.

It is going to come down to a bank that believes in you and what you are trying to accomplish.

I believe a hybrid HELOC might be your answer. 

Also, I believe if your putting in business name and not personal, some banks will require commercial terms. 

He believes it is a property we can acquire for under $100K and Rehab to have an ARV of $200K.

Hi all,  I believe this topic was already discussed years ago.

If you are a softie and believe hard luck stories and have a difficult time saying no .Then being a landlord isnt for you .  

Tenants pay electricity, not sure about water and i believe there would be a dumpster unit rental every month (there are other quad plexes on the same street)2 units rent for $450 each2 units rent for $425 eachTotal rent income: $1750No pictures are listed, and will only let you view inside if offer is made.Financials: 25% down: $25,980Financing: 108,420Closing cost: EST. $5000Total investment: $30,480Mortgage payment: $530/month (Conventional 30yr at 4.6%)Annual rental income: $21,000Annual Expenses: Property tax $1200 estimatedInsurance $1,200 (best guess)Prop man.$1680 (8% of rent)Mortgage $6360Calculations:NOI = Income (minus vacancy)- Expenses (Prop tax, insur, and Prop mgt) = 21,000- 4,080 = $16,920Cash Flow = NOI - Debt service (mortgage) = 16,920 - 6,360 = $10,560ROI = Cash flow/ Investment basis = $10,560/ $30,480 = 34.6%Cap rate = NOI/ Purchase price = 16,920 / 129,900 = 13.0%I realize i forgot to add vacancy rate to the duplex. 

And, if you can’t actually benefit from the depreciation that year, it will carry over help you on cap gains I believe.