Do a Google search for "fake credit report" or "fake pay stub" and you'll find plenty of examples.

How did you pay him?

I have a friend that I just taught amortization to as he is trying to quickly pay off his mother's FHA loan to remove a co-signer, then cash out refi (yes, I explained interest rates right now).

You will certainly pay a premium for turnkey, but if your long-term goals are appreciation and stable yet modest growth, it is certainly advisable.

However, I'm currently based in CA, and we pay a pretty penny of our post-tax money to vacation in Airbnbs over the summer so that's one (personal) benefit to purchasing one, and I would like to be able to visit the property relatively easily (ie. by driving there).

.- Maintaining Property Value: Renting to reliable tenants who pay on time and take care of the property helps maintain its value.

I assume since I have plenty of basis, I would pay no tax as I'm not overdrawing my basis.

Hi @Janna Afanasjeva - I am almost positive you just need to keep all the accounts completley separate regardless of business or personal account and it needs to be an interest-bearing trust account (or something similar).FOR SURE @Mark Ainley, @Jared Kott, or @Jason Marcordes could answer that question for you as they are all local property managers.

Then once you close on the house take out a standard 30 year mortgage to pay off the hard money loan?

My experience is you get what you pay for.