I think they do split it up into the income and debt components because in the past my rental income has been included with the income from my regular job.

With 1st position lien, with an insurance policy at full replacement value (usually 1.6-1.8% of loan amount), and by a signed executable quit claim deed should the borrower fall 30 days behind payment.

So I have purchased a few rental properties here in CA and they are cash flowing well which is great, but I would like to pay cash for properties and start flipping homes to help make more income to invest in rentals.I went to a few auctions in my area and spoke with some of the regulars and I really don't think actually following what is coming to auction and going to the auctions is for me.

The bank will use what you're claiming to IRS before they take a representation from you unfortunately.

But, I do not have the cash to be claiming a cash buy.

I was strictly replying to Steven's claim that managing ones own rental makes piercing the corporate veil rather easy (look at the part I quoted).

Yeah, there's programs that will let you sign a PDF.I wouldn't personally, just because I'd worry the tenants have a feeling it's less "real," they might try to claim it wasn't them, etc.

They are marginal deals at best which is why you have no action.It is very hard to find a true wholesale deal at the right price.It is just like the regular purchase arena out there in that there is mostly a bunch of trash and a few good deals everyone is chasing.

I am new to real estate so please fill me in as much as possible..

First off can I write off meals if I am talking about Real Estate? Pf so is it only my meal or if there are two of us can I write of both of them?

W...

However a friend of mine claims he just refied his primary residence (loan around 420k) and the loan originator (not a portfolio lender) paid the closing costs.