For self employed I ask for the last two bank statements.

I first went there in the mid 80s and i was buying foreclosures there in 2009. when the last building boom was going in 2004 to 2007 until the big crash.

Jay, are you tapping “view last reply?”

The struggle here was financing the purchase through the llc because of the way the llc we've been filing with losses and had to adjust certain things last minute to make the funding work.

Positives from an investor's perspective:- Leverage and Appreciation: By opting for a 20% down payment, I'm leveraging my capital.

This last year was an exercise in "what not to do" LOL! 

Lastly, if you have 91% occupancy you aren’t charging enough.

Unfortunately, last year the tenant failed to pay rent for a while which led to an eviction and the property was found to be significantly damaged -- water damage, fixtures damaged, etc..

Some background:We bought our first property last year (2023) for $675k.

Example:  We took over a management agreement last year for a Landlord / Owner that was with a local competitor.