I use the term notice of interest, but it's essentially a lien against the property that is based on how much we essentially lent the homeowner to renovate the home.

If they report to the credit bureaus it will affect your DTI as your DTI is calculated based on what's on your credit report compared to your income.

I make it a little bit of a game to try find the properties that are spotlighted in their teaser newsletter and see if they are a good deal.

I love BP and can't get enough of this real estate game : ) Preferably no more "apartment fire" calls at 7pm at night though ; ) 

If you are not getting any traffic, it is usually a pricing issue based on what I have read on this forum.

You can do this with people at church, people at a ball game, your hairdresser, anyone who is getting garbage returns in the stock market or a CD.

Having an LLC is not necessarily a requirement, but may be prudent move based on your intended activity.

That is a small kitchen so looking at less than 10k all in, the flooring 7-8k if you are using a life-proof style LVP and drywall/paint about 5k based off your SF.

I would really like to get started…just need to figure out my game plan! 

Located in: Trenton, NJ  one thing to realize and talk to your accountant about is if you assume it - do you assume it based on his cost basis, which could be a lot lower than the property value and then when you do eventually sell it, you could be hit with a nice capital gains bill.