Are you looking for your first property or do you already own a unit or more?

.:  So we got a call from our property manager and said that the toilets were backing up. 

I know this is more of an investing forum, but I figured I'd reach out and see if members with an investing background would provide advice.We're preparing to purchase a vacation property in North Myrtle Beach.

when underwriting a property a good rule of thumb would be to set aside ~5% gross income for each Cap Ex, maintenance, and vacancy. (15% total)I dont know much of the market in TX but in central MA i work with a lot of investors that are interested in acquiring multi family properties so that's mostly what i deal in. 

We had to 'pierce the veil' and have an underlying partnership agreement, bank account in the partnership name rather than Land Trust name, but it did work out to open an operating account for each property.  

I’m aware that the process of getting a conventional or a FHA loan is a bit more strenuous as a 1099 and wanted to know the best course of action I should take as I’m trying to purchase a small fixer upper multi-family investment property hopefully by 2026.

I find it much more useful when you have multiple properties.  

Quote from @Karen Seguin: Good afternoon, I am currently closing on my first commercial multi-family property and all of the tenants would like to stay and I would like them to stay as well.

You can look at who owns properties of interest in your market through google searches.  

This first season is for you to gain hospitality and property management experience and reviews.