Try being positive, it puts a smile on people's faces.I just joined the Mercedes forum too.

If you operate as a separate business entity - S-corp, C-corp or a partnership - you may be required to have formal compensation for yourself: either a W-2 salary or so-called guaranteed payments.

I also have two buy-and-hold rental properties and am passionate about exploring unique financing opportunities.Recently, I used a VA loan assumption to purchase an investment property at a 3.3% interest rate, which was instantly cash flow positive. 

@Lilia Very refreshing to see such a positive attitude and ability to bounce back, I am sure you will succeed in your investing journey

@Alicia Prokos (and anyone else in the same position) A 401k plan is a type of Qualified Retirement Plan, in which there are - at a minimum - 2 essential roles: Trustee and Administrator.Plan administrator – The person who is identified in the plan document as having responsibility for running the plan.Plan trustee – Someone who has the exclusive authority and discretion to manage and control the plan assets.In the overwhelming majority of plans, it is the business owner and/or the business entity adopting the plan that fill these roles.Companies that provide 401k administrative services are more aptly called "third-party administrators."

The rooms are unfurnished and the tenants are very low-maintenance (hardly know they are there). 2+Unit Buildings here and nearby currently sell for $1.5M on average.I bought the property 16 years ago, so my mortgage rate is very low (2.2%) Even though the property is cashflow positive, my bigger play is the average 5% yearly appreciation.I'm looking for others who are interested in house-hacking in this neighborhood. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Many sellers will not accept this since they are in second position, and it is very risky since if you default (higher probability for investors with no money and/or no skin in the game), they will most likely be wiped out during a foreclosure.

I have positive feedback on them.The time between appraisal to notary signing is 10 days.

I am looking for a bank to carry 75% to 80% of the purchase price in 1st position, and have the seller carry a small 5% to 15% 2nd position note on the property.