@Chris Seveney I have an IT consultancy as my main income for the last four years.

I would focus more on going to meetups, saving money, and learning, before jumping too soon into something with a hard paydown vs. incoming income and no savings.

Hi Carlos - With a HELOC you'll have lower closing costs being a plus in addition to flexibility as you can draw funds as needed and only pay interest on what you use.

and 2) would I have to declare rental income if the agreement stated that he was paying the mortgage (instead of rent) until such time as he could get a loan to purchase it.Advice and comments welcome!  

This could be a fine or a requirement for the tenant to pay for additional cleaning or repairs caused by smoking.

We would be looking into rentals down the road as we gain capital to create and build passive income.

The scammer would have to be present at several court hearings over the course of a year or two in addition to filing the proper paperwork.

I put together a spreadsheet example for a $1M STR purchase, $20k STR income a year, and $400k/yr W2 job in California.

The DUNS number is in addition to EIN.

I just thought it would be great if there was a list of tenants that are qualified that I can reach out to, and I would even offer some discount to them to entice qualified tenants.This would be in addition to the usual zillow and facebook postings I have listed.