It's very unwise to use a new builder in the area as you need someone plugged into the town so you reduce your delays and get inspections on the timeline as they expect.

Almost everyone here on BP will tell you that they wish they had started earlier, myself included.4.

Include not only the mortgage payment but also taxes, insurance, property management fees (if applicable), maintenance costs, vacancy allowance, and any planned capital improvements.

To minimize audit risk, it’s advisable to choose “Other interest” instead of “Mortgage interest” when reporting.Part 2: Forms 1099-INT from Investors to Private LendersForms 1099-INT Explained: Similar to the interest earned on savings accounts, Form 1099-INT outlines the interest that must be included in taxable income.

Almost everyone here on BP will tell you that they wish they had started earlier, myself included.4.

The first property rents for $2,125 per month and its expenses including maintenance and vacancy is $1,350 for a total monthly cash flow of $775.

If as a partner, you had better have your attonrey draft a good JV agreement OR form an entity of which you both are partners, which would also include a formal operating agreement drafted by your attorney.If you choose to act in the lender capacity, your borker will handle all the paperwork you need other than your own internal paperwork requirements.

It's a smart way to reduce or even eliminate your own living expenses while gaining investment experience.

We have in effect done a pocket veto as we have not responded, but I plan on responding indicating we need above LTR rates otherwise we can just switch to LTR increasing our revenue due to reduced expenses.  

However even if the cash flow is reduced, it may not be as great an investment but could still be a fine investment.