My main question is, can a lender exclude income that was reported to the IRS if the business is not established in an LLC? 

I still have a lot to learn.

Those policies were underwritten for you, not the LLC.Early on I established a mgt co to oversee my portfolio.  

Hard money lender wants 12% plus 2 points, from what I have read on their website, which is fine as this is my first deal and establishing a business relationship.

I plan to use funds from that partnership to build cash reserves to pursue a commercial equity to establish incomes of scale. 

Asking price was $1100 but we lowered it to $995 after 3 weeks of several inquiries but no takers.Applicant #1: $1,500 gross income PMCredit Report:CountHigh CreditCredit LimitBalancePast DuePaymentAvailableRevolving7$19,851$21,200$12,928$0$31839%Installment2$27,732$0$27,141$0$403N/AMortgage0N/AN/AN/AN/AN/AN/AOpen0N/AN/AN/AN/AN/AN/AClosed w Bal-N/AN/AN/AN/AN/AN/ATotal9$47,583$21,200$40,069$0$721N/AResidentScoreScore Factors675Bankcard account balances are too high in proportion to credit limitsToo many revolving accounts with balances too high in proportion to credit limitsToo many recently opened accounts in proportion to total number of accountsAvailable credit on bankcard accounts is too lowApplicant #2: $2,000 gross income PMCredit Report:CountHigh CreditCredit LimitBalancePast DuePaymentAvailableRevolving2$2,509$3,300$2,153$0$7635%Installment1$24,792$0$23,368$0$256N/AMortgage0N/AN/AN/AN/AN/AN/AOpen0N/AN/AN/AN/AN/AN/AClosed w Bal-N/AN/AN/AN/AN/AN/ATotal3$27,301$3,300$25,521$0$332N/AResidentScoreScore Factors672Bankcard account balances are too high in proportion to credit limitsLength of time bankcard accounts have been established is too shortToo many recently opened accounts in proportion to total number of accountsToo many revolving accounts with balances too high in proportion to credit limitsMySmartMove.com recommends renting to them but it doesn't seem like their incomes are enough to pay rent, utilities, etc. when factoring in all their debt.Thanks in advance for your feedback!

Further more, you can check out the nearby members and network https://www.biggerpockets.com/meet, it will help you a lot to find partners that can help you out in investing.

hi my names Joe, ive recently became a pro-member but have been on this site for a couple months now, i"ve listened to 100+ podcasts, mostly the ones that pertain to multi family and apartment complexes but have ventured into the other podcasts on flipping, wholesaling, etc.I'm bases in northern KY (Kentucky) and have established a good CPA and lender to help me with my future purchases. would also like to meet with some local investors if there are any around me, i've been in touch with a couple good friends who have became realtors and have been set up on MLS. but am always looking forward to meeting new people and analyzing areas that look like good places to invest.myself and a co-worker both are interested in getting into rental properties  I personally have 30k in my 401k that I would like to invest into real Estate as opposed to keeping it in.Both me and my friend don't have to much faith in the stock market and would rather take control of our investments.  

Establishing a good ARV is critical to the process.  

With that, I think it's very important to establish what you consider a "good" deal.Hope that helps!