Several court cases support the authority of the IRS to reclassify other forms of payments to a shareholder-employee as a wage expense and subject to employment taxes.[...]The key to establishing reasonable compensation is determining what the shareholder-employee did for the S corporation.

This way your analysis will be accurate if/when you hire out to a PM in the future.Your home may not have the same expenses because you have pride of ownership.

Agree with J Scott, ownership, mortgages, etc. are effective upon execution.

I am new to the investing/home-ownership world and would like to meet more like minded people.

This year, he provided pay stubs showing $5200/month gross & another job of $1800/month gross again, as an independent contractor.How do I determine his income?

The lender is looking at my next purchase and using a rent schedule to determine if the property will have positive cash flow; not using my DTI to determine if I can "afford" the property.

By the time we closed I had my carpenter, plumber, electrical, flooring folks all in place and ready to go.Then I drove the island to determine what I could purchase from there vs. what I needed to get from Houston.

You should determine how long it takes the builder to complete from the time you have you're mortgage commitment to move in.

Keep in mind that the tenants might be wary of an ownership change for fear of a bad landlord or their rent going up.

How is the value determined?