I would advice you not to let the tax tail wag the income dog.

I am a 16 year old planning to form an LLC under my parents name in order to qualify for business credit to cover the down payment on my first investment property I will also pair the business credit I am able to qualify for with cash and refinance to pay off the down payment when the interest starts to kick in but I am wondering if when applying for a FHA loan on an investment property if they require income to qualify or if they will accept it because I will be renting and covering the mortgage with the rent and how that all works when qualifying and if this is even possible. 

Knowing what you are needed an income property to do inside your portfolio will help you narrow down what initial steps make the most sense for you. 3) New construction can have rate buy downs paid for by the builder and new construction comes with a lower repair and cap ex cost the first 10 years (usually). $450k is a big number when only $2500 in rent is coming in the door.

I would use the rental income to hire a maid service to do weekly cleaning for me. 

Thanks to the Cost Segregation Study, the property investors were able to reclassify the property components and accelerate their depreciation for a total of $356,000 in the first year.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

In these cities, your financial resources will go a long way enabling you to assemble a diverse multifamily portfolio and initiate a steady stream of income.

If you have trouble showing income and the property is non owner occupied, you may qualify based on DSCR 

Our idea is to convert part of the home to a Jr Adu and get rental income that will offset the expenses for dear dad and let dad live rent free.  

Currently, the property is performing well, generating consistent cash flow.

Would you just leave out the income requirement since the housing agency is covering the rent?