If you have a history of having rented the property by the room, a lender will very well look at the rent you have gotten and lend based on that (or at least the DSCR won't reduce below whatever LTV is offered on the appraisal).

If you're local housing authority is decent to work with and you screen your people well section 8 can be a win for everyone. 

Plus, you get to depreciate the properties by 3.3% a year on your taxes - saving you $26k-40k of taxable income as well… all while your tenants pay down your mortgage with their money.  

Forgive me if I'm mistaken, but it sounded quite guruish as well.

Hi @Shawn Good my wife and I are in a similar position and would like to buy a STR in the fox lake area that we could also have for personal use as well.

Be confident the mortgage company, and the wholesaler is well aware of the procedures and will out maneuver you, even if you are factually correct. 

It's been going well.

Confirm that the IRA LLC provider will prepare all of the documents needed to not only form the LLC (articles of organization, SS-4 to obtain an EIN) but also the documents needed by the trust company to process the investment of IRA funds in the LLC.3.

Dehumidifiers also run continuously if the space they are in is not sealed well.

Well worth the $500!