I was able to get the rood payment cut in half, so I did not have to pay the whole price for it.

So for credit, set a minimum but look at pattern of payment and Debt to income.   

So I am not the smartest person and some of the helpful replies in previous posts was above my mental capacity.My situationI own a home (homesteaded in FL) and have 2 roommates which help pay the bills.numbers - mortgage left 155k, home value 330k, current interest rate 4.125% on conventional with 24 yrs left on a 30 yrmonthly payment with HOA $1600 pcmI am wanting to either1) turn this primary residence into an LLC and purchase another property to move into and start the process again with the aim being to rent my current house out on an annual 12 month lease for at least 2 - 3 years as I was told that as long as I lived in it 2 out of 5 years I can then sell without paying capital gains (though this confused me and anyone wanting to teach this to me like im 5 years old would be greatly appreciated).

We have been offsetting the water bill with an extra payment each month. 

I then moved on to non-owner occupied small multi family deals, eventually using private financing.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Of course, land always comes out as non-depreciable.

Legal integrity is non-negotiable.5.

Legal integrity is non-negotiable.5.

Legal integrity is non-negotiable.5.