Hi guys, sorry if I am posting in a wrong forum (There used to be local forums, somehow I cant find those anymore)...Does anybody know, if I wanted to transfer a house into an LLC in Indiana, is there a transfer tax?

Plus you won't need to provide tax returns or paystubs, lenders will look at the return on investment of the property itself.

What if one of you loses their job and can't pay their part of mortgage, taxes & insurance?

Insurance and Taxes - This will go along with budget and timeline but is important to note that you're going to pay this for the time you hold. 

I grew up in CA and decided to move and invest in Reno, NV because of it's proximity to CA and Lake Tahoe, job growth/population growth market dynamics, taxes do not reassess on the sale, no state income tax, much more landlord friendly, etc. 

If you're thinking about out of state investing Reno, NV area is a great market and close to CA and all the tax benefits, landlord friendly, and low property taxes.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I've found luck using actual tax returns as my income instead of talking about rents or how I rent it out.

He probably would have gone for it because he says he paid almost 6 figures in taxes on it. 

So e plan is to lose 30-50% of the money in taxes and penalties the day you take the money out?