You need income of $6300 or more if you have a car loan/student loans/credit cards.

When you get to the rental income section, make sure to add the gross monthly income of the entire property as well to properly determine your analysis.I hope this helps!

It is no doc as far as verifying borrower income and such so its rare that the deal falls out

Deferred Taxes and Tax ReductionCost segregation studies can reduce taxable income for property owners both during their lifetime and within their estate.

Be prepared to potentially have zero income for many months.In addition, you will want to check the permits.  

@Jacob Hafer, in most cases its a sunk cost and some landlords nefariously even use the application fee as an additional income stream.

@Gavin JexSo you want a bank loan and then seller finance as wellA bank would not be in second position so they as the owner / lender would be in second.Also 0% they would still be responsible for taxes on that at AFR so if your payment is $300/mo the loan would go off federal rates so they would essentially have to claim around $5k in interest income which would be ordinary income so they may end up paying all of your payment in taxes… just fyi if they did speak with someone on thisSounds like a steal if deal for you

I have taken the wholesale and passive income course and started in March 2021.

Looks I have to report net income on SE Line 24 ($2k), but on Line 25, I cannot claim losses due to higher income (>$150K).

My NET operating income (what actually matters) was 60k less than the year prior.