I just sold a duplex for $520,000 in four days, even though the current income is $1800/month and the market rate is only $3,000/month.

you don't just go to a website, write in some numbers and poof, get a proof of funds. you need to speak with a mortgage officer to go through your income, assets, debt, etc. and see if you qualify for it.

I didn’t quite realize it was an income thing.

@Nick Belsky how are you seeing lenders underwrite the rental income for SRO?

Anyhow, ill stop babbling but this seems like a class action to me and for anyone and everyone denied licenses, those with current license and anyone who’s lost income from this.

The eventual income from real estate will supplement our retirement and SS so we can do the things we want to do with our time.The best part is our kids will be in a much better place financially due to this and it can change our family tree forever.Funding:HELOC on CondoW2 JobsLightStreamEstimated Equity:4/18/2023 - $165k4/19/2024 - $207kEstimated Value of Assets:4/18/2023 - $232k4/19/2024 - $1MNothing wildly impressive for equity growth, but if our portfolio property values average 3% growth annually, we are getting $30k in appreciation instead of $7k.

If your property is not in WY, now you may be involving fees and filings in 3 states if you went forward with a WY LLC.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

Just need to make sure the property generates enough income to cover the monthly principal, interest, taxes, insurance and HOA (if applicable).

Open up a separate bank account just for your rental activity.At the end of the year, export the date into excel and properly classify each transaction as income or an expense.

Apt 2 rented at 1300/mth (2 bd)I would call the rentals B-/C because they are in a giant metal shop and low grade materials.So gross income of 76K annually.Expenses:Insurance is currently $14652 annually but that seems way too low when SFH go for that muchTaxes are currently 2800/yr, but I expect those to nearly double if I pay his asking price (so let's say 5k/year.