I am able to work as a travel doc, and she works remotely in tech, and we plan to use our combined incomes to put towards REI, as well as keeping our cost of living reasonable!

If you want true "Passive" income in real estate, you need to have a lot of cash to put into it.

Your greatest challenge is going to be running this management company without the appearance of co-mingling all of the LLCs together.Bear in mind that one of the things that you'll be doing here is converting Passive Income to Earned Income via the Mgmt Company and that will be subject to self employment tax whereas had you left everything in the property LLCs, you'd have only passive income. 

Just because they make enough income doesn't mean their application is perfect.

The loan programs for 1-4 units have more favorable terms depending on if you're buying with income with a conventional investment property loan or having the loan underwritten by the rents with a DSCR / rental property loan. 5-8 loans generally have tougher underwriting and the rates are higher if you're looking at DSCR loan options for 5-8 units. 

Make sure you get your financial house in order first -- decrease debt, increase income, & maintain a good credit score.

tells me they've been getting calls from customers alright.Fourth, I looked through the mortgage contract fine print (see last photo) and found one reference to where the bank could require Annual Reports for net operating income, but nothing about requiring tax returns, requiring an annual personal financial statement, or anything about tacked-on interest rate bumps, other than delinquency.

We drafted, signed and notarized an "agreement related to ownership of real property" Stating ownership shares, and income splits. 

He said he is willing to get creative with the structure.Asking Price is $1.5M, current gross income is $80k which he claims he could "easily" get it to $100k, but he likes sticking with his long term tenants.

We wait until right before your mailing to order your own personalized, completely fresh list to ensure that your prospects are as current as possible.And, as a mailing house, we've actually found that our prices are more affordable than most list brokers, since selling lists isn't our only form of income.