Hi, account closed.

I suppose I can take the money out and put into a bank account and then submit it, but that would be a lot more work4.

You can use DSCR programs that only looks at your credit and the property itself.Either way, it will be important to have a high enough credit and down payment to qualify.

An accountant can explain this in better detail

In theory we could buy a house with him and rent it for ten years and break even, pay the debt down, build credit, and later maybe he lives there.

Hi Salvatore,If you don't transfer the title and the mortgage to the LLC and do all the paperwork to show your LLC instead of your name, then you are still liable for any issue that happens to your tenant if they want to sue you.Mortgage companies in general allow to transfer to an LLC after one or two years.As Bill's mentioned, don't commingle funds is key as well, as soon as an LLC is open you have to open an LLC business account and everything towards the LLC goes there.

I have not used Stessa, but it maybe cheeper for you to just have your accountant do the book keeping for you.

I see they suggest offering the tenants the option of paying by Credit Card.

Make sure your financial situation is stable, with a strong down payment, an excellent credit score, and a clear grasp of your budget and objectives.

It has nothing to do with how much you make rather what the repairs are.Ask your accountant to show you where this is written on the IRS website.