If you ask your tax gal what IRS form the business will be reported on, you can probably give a blank version of that form to your mortgage guy, who can draw little smiley faces and sad faces to tell you what will and will not ding you.

Passed VA appraisal/inspection even though one of the duplex units was barely habitable and the noticeably buckled floor under the floor ended up being due to ongoing water damage.

You're going to get all kinds of answers because, let's face it, there really isn't one that is BEST or else we'd all be mailing to them.

BP,This is an open question to all realtors, REIs, wholesalers, rehabbers, and every other entrepreneur that is somewhat involved in RE.I wanted to put this in off-topic because I want this to be an open discussion on listing some of the biggest problems we face throughout our day to day.The reason I ask is because myself and two partners are just finishing up with a proof of concept directed at realtors and after meeting with a few really got us thinking about some of the other issues we could possibly address.

What you describe is nothing compared to what you could end up facing with a bad tenant.

Hello,I'm another new face to the game.

Without them getting timely in their face reminders they may discover you aren't checking and then intentionally be slower and slower.

In Memphis this means the face value of the policy is much higher than the market value of the property, which means I'd be paying a higher cost for coverage I don't need.All that said, unless you happen to be in a scenario like me (where you have your personal coverage through a top of the line insurer with very competitive rates, but that same insurer prices investment property insurance too steeply), you may find that it's simpler (and less costly) to hold all of your insurance with a single company that offers multi-line discounts as @Andrew Johnson suggested.

I spoke with a tax friend of mine who mentioned we should look at starting a REIT to acquire these properties we are going after (mainly just bare land that we plan on flipping).

With that being said, the best way to really find buyers, and I mean buyers who actually buy, is to attend your local meet ups and actually meet real people face to face.