can you provide insight to your phrase "I've got a friend who owns a rental in the Raleigh, NC area that a company just pays him a check every month for the right to rent it out."

The 50% rule states that approximately 50% of EGI will typically be consumed by operating expenses.While the 50% rule provides a quick estimate, actual expenses can vary widely depending on the property type, location, age, condition, tenant mix, and market conditions.Here's an example: if a property generates $200,000 in EGI per year, the 50% rule suggests $100,000 would go towards operating expenses like taxes, insurance, utilities, and property management.

I'm sure the brilliant minds here at BP will be able to provide you some creative ideas!

Can anyone provide advice and steps to moving this forward?

This may require providing extra documentation such as 12 months reserves, 12 months of mortgage payments for both the rental property and primary address.

Hi Gabriel..I've been in and around loans since 2003..we work closely with our lending partner that actually can provide HELOC or fixed second loan using a variety of income including bank statements..I think you can go up to 80%-85% on a primary using bank statement on a second lien position.

Some professional managers are great and some are not.

The info I've found online on FIRPTA is a bit unclear, so I'm hoping someone here at BP will provide some clarity. 

Hello, Mark Svendsen, based on the information provided, here’s my analysis and some considerations regarding the trustee's decision and your options:1. 

It is important to make sure the lender will allow different insurance providers for flood.