you don't just go to a website, write in some numbers and poof, get a proof of funds. you need to speak with a mortgage officer to go through your income, assets, debt, etc. and see if you qualify for it.

It seems like the income is significantly reduced when there is a mortgage but as a newbie I am trying to figure this out.Thanks!!

If the buyers are cash buyers why don't they just put their money in a CD and earn 5%?! 

@Nick Belsky how are you seeing lenders underwrite the rental income for SRO?

The eventual income from real estate will supplement our retirement and SS so we can do the things we want to do with our time.The best part is our kids will be in a much better place financially due to this and it can change our family tree forever.Funding:HELOC on CondoW2 JobsLightStreamEstimated Equity:4/18/2023 - $165k4/19/2024 - $207kEstimated Value of Assets:4/18/2023 - $232k4/19/2024 - $1MNothing wildly impressive for equity growth, but if our portfolio property values average 3% growth annually, we are getting $30k in appreciation instead of $7k.

If your property is not in WY, now you may be involving fees and filings in 3 states if you went forward with a WY LLC.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

Depending how much you earn you can step up those savings by getting a side-hustle in any part of real estate....working for a top Real Estate office on weeknights and weekends, working for an RE Investor, working for a General Contractor and learning a few skills, etc.

Just need to make sure the property generates enough income to cover the monthly principal, interest, taxes, insurance and HOA (if applicable).

Open up a separate bank account just for your rental activity.At the end of the year, export the date into excel and properly classify each transaction as income or an expense.

If you stick to finding equity, refinancing/flipping, you can turn that into cash flow (+ cost seg) to keep as much of your hard earned money as possible.