Eliminate all agents who have been licensed less than 5 years.

Question one: Should I be concerned with the level of debt I am accumulating, even though it is good debt.

When the LLC has $500K in asset value after debt (equity, cash, equipment, etc) then a new LLC is created.Others focus on the types of liability.

President Bush signed into law H.R. 3648, The Mortgage Debt Relief Act of 2007, and dramatically changed the lives of homeowners across the country who are facing foreclosure, considering a short sale, negotiating a loan workout, or have done any of these since January 1, 2007.

I would say things that may cause a deal to be good or bad, should be eliminated from the list. i.e. comps, etc.

He does not receive any excess cash from rents after expenses & debt obligation.

At first I wanted to start out with stocks/bonds/debt/securities etc.

Then adding to that the debt servicing and voila, you have your evaluation of cash flow.

==> we have $2000 to put towards the debt service.So this would make a basis of $320,000, Now we would deduct any repairs the property would require.

The only difference is:1) expect banks to require higher downpayments (30-40%, instead of 10-20%)2) expect to pay a slightly higher interest rate, maybe about 1% higherYou will still need a good credit history and favorable debt-income ration.Hope this helps!