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).

@Victor YangWhy are you not reaching out to a NC real estate attorney to draw up a document that spells out the agreement that you are looking to do with the tenant?

Instead, roll the funds into an IRA or Self-Directed IRA (SDIRA) to keep them tax-deferred and open up flexible investment options, including real estate.

One thing that I REALLY hate is that most of this Lawyers have great structures and setups...but very expensive packages that include entities that are not necessary.More info tomorrow.  

I suppose I should have included that info.

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

As @Jerryll Noorden said BE HONEST, full disclosure, INCLUDING that your a licensed agent. 

You can request a hardcopy by calling (800) 226-9101 or (850) 488-1122.Include all allegations and supporting evidence, such as photos and timelines.Mail the form to:Department of Business and Professional RegulationDivision of Florida Condominiums, Timeshares and Mobile Homes2601 Blair Stone RoadTallahassee, Florida 32399You can also fax the form to (850) 488-7149.What happens next?

I would also include 'creative financing available' at the beginning of the listing description to capture everyone else looking on Zillow, etc

We would just go back to PropertyMeld, but there is not integration.2) reports. reports are very limited in the information you can include on a report.