Reading through the contract offer that my longtime buyer's agent has prepared, I was surprised to see closing date August 7 and first payment due September 1.My understanding is that the buyer normally gets the remainder of the calendar month after closing date, plus the next full calendar month, before first payment is due on the first of the following month.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Choose Your Real Estate StrategyRental Properties: Purchase properties to rent out for consistent monthly income.Fix and Flip: Buy distressed properties, renovate them, and sell at a profit.Wholesale: Contract properties and sell the rights to buy them to other investors.Real Estate Investment Trusts (REITs): Invest in publicly traded REITs for passive income without direct property ownership.5.

A lot of lenders have a seasoning period of 6 months in order to use appraised value not cost basis.

The members of the debt LLC would raise money specifically for a property purchase; members would not be investing in a business for profits, they would receive monthly payments according to the terms of the note; and the LLC would receive collateral in the purchased property. 

They paid first months rent via paypal saying that my zillow rental portal is having issues.

If he refi's after 12 months, Fannie/Freddie dont care.   

Buying existing rentals and improving it is another story. typically I'd agree but we build a stacked triplex that does very well with build cost around 380k and rent at 5k a month. value is about 600k I think you need to build multiple dwelling units in the same building for the numbers to work

Then down the road 12 months or more you can refinance pull some cash out and buy another property.Atlants & Oklahoma City are both great locations just do your home work on the neighborhood for home appreciation and rents. 

Redemption PeriodThe defaulting taxpayer, any grantee from the owner, or any mortgage or judgement creditor may redeem each item of real estate within twelve months from the date of the delinquent tax sale.