For my people that rehab, this right here was “one of those types of projects”🤦🏽‍♂️ So many issues just getting this one to the finish line, and took a major loss in doing that smh.

I am trying to find free leads until I can afford to purchase a lead gen program and tried to look at my counties website, I found myself at a complete loss.

In most areas I do not even place the deposit until I get through the initial 90 day feasibility study to determine if the project will even work financially and potential for approvals.

The loan officer is saying that because it’s from a business that I partially own, their underwriter will ask for financials from the business and take into account the profits and losses for the last two years.I argued that because I only own 20% (which is less than the amount to qualify for self-employed) the business financial should not be taken into account at all and my part-time income (which I’ve been receiving for over 2 years) should be considered without question.Can someone help clarify this situation?

I have a great recommendation for a local attorney who could determine feasibility and walk you through the process. 

what are your out-of-pocket losses?

Monthly Operating Income Scenario A Number of Units 1 Average Monthly Rent per Unit 1,175.00 Total Rental Income 1,175.00 % Vacancy and Credit Losses 2.00% Total Vacancy Loss 23.50 Other Monthly Income (laundry, vending, parking, etc

Also I'm going to start a LLC and buy the new property with the LLC.Does this plan seem feasible?

The necessary elements are: an express or implied agreement; a common purpose that the group intends to carry out; shared profits and losses; and each member’s equal voice in controlling the project.

Not sure what the definition of "affordable" is...I checked USAA out first and they have an offsite company that they work with for rental insurance that gave me the following quote: ...By the way the cost of my cabin was just under 334K.American Modern Property (off of USAA) 334K Rebuild value500K Liability1000 deductibleAnnual Premium=$962/year or $81/monthI didn't get into all the specifics about what it does and doesn't cover, so more investigation would need to be done.I then contacted Proper Insurance Proper Insurance  335K rebuild value25K personal property50K loss of rental income1 million liability1000 deductibleAnnual Premium=3239/year or $270/monthI then spoke with a Brightway/Foremost Insurance, which had been referred to me and who is local there in the Area.