In Ohio, it sounds like our county auditor is like your assessor - they classify, document, and record the taxes and ownership on all property.

@Alicia Waldman , first, you need to determine if the lender is a direct lender, indirect lender, or a mortgage broker.

- Does anyone know if it is legal to finish out these agreements since they were done under prior ownership?

@Liam Goble Explain 'ownership investment' please.

you bring up a good point Jeff, but that limit I believe you mention is part of HOEPA (home ownership equity protection act) and I believe its only for owner occupied or financing charged to owner occupied.These NMLS classes we take are pretty lengthy and I could be wrong.

I love it people have the determination to close a deal.

The downside to it is that it costs a couple hundred bucks and you need to re-test at ever tenant changeover.When testing for lead-free an XRF gun is used to determine lead paint concentrations on different surfaces.

From purely a financing standpoint, can anyone advise me as to how the 2 types are determined by the lenders?

You need to experience some of the frustrations as well as the rewards and then determine if you can make a living on straight commission.

The lender will use the schedule E to determine what the net rental income is.