However, @Josh C. is correct - they are only going to loan you a percentage of the value of all the properties added together.

I added a couple more pictures to the album

Hi @Ian Barnes Contractor fee is just what my GC charged for managing the rehab project instead of adding on to each individual cost.

Your taxes will be based on gain from that point after depreciation is added back in.

I did a quick Google search and confirmed that murdering the tenants was still illegal. 

And with anticipated child support added in, just counting my W-2 income alone raises my DTI too high to qualify with all my debts total.So does anyone know of any lenders who would count that spare bedroom income in my DTI for refinancing?

You can google for it, but here's one as an example: Atlanta expeditorCall or contact them.

There is some good info on this site about a series LLC, but a quick google search will explain the basic premise.

It would be an added bonus if you're handy and can fix up.

Gary Clisele Also if your buying a note for $5k the quality of the asset will be very poor and is most likely a property in a D area that needs extensive repairs -If you end up taking the property back it will probably be a loser since the rehab will be higher than the property is worth