We use a YTD paystub and last year’s W-2(s) to calculate income several different ways:Hourly or salary income calculated to a monthly amountYTD income divided by number of YTD monthsYTD + W-2(s) income divided by the corresponding number of monthsIf these numbers vary too much, then we investigate and require an acceptable Letter of Explanation.Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment to make sure they’ll always be able to pay the rent on time.

No experience with the 2 you mentioned, but I'm a fan of paying the year so I don't forget next month/quarter and the coverage lapses.

We use QB for bookkeeping and accounting, and Relay Financial as our bank so we can automatically sort out a % for taxes and we pay those monthly/quarterly depending on what the township requires.

I'm so accustomed to paying these commission fees without questions as it's the norm.

Make them pay the full deposit and first month's rent (proves they can afford it) then give them the reduction the second month.4.

Does this mean, I am not able to refinance to a lower rate in the future until 5 years or I would have to pay a penalty if I were to do it earlier than 5 years.Thank You,

B) Hold the lots, pay the taxes each year and just sit tight to see where things go, hoping in a few years demand will pick back up and then either sell the lots or build. 

Is there a fine they pay or does it say nothing?

How do I prevent someone from staying past their stay without pay?

I actually just did a dscr loan to pay off the hard money I borrowed on the second property (where we live and rent the actual house) I estimate the appraisal to come in around $215-280K which if I were to take out 80% would barley give me enough to buy anything in the FL market and have cash left over for renovations.Not sure if im missing a step here or if it might be best to buy an auction home with that cash to flip and have more capital to have more deal options.