Also I am not referring to a VA loan.

I'm not a lawyer and not giving legal advice  -  I'm not a CPA and not giving finical advice  -  Simply my opinions@Ike MutabannaTo find a lawyer try checking on the Texas bar website www.texasbar.com You can choose specialties such as Real Estate and professionals with an office location near you.My $0.02 on the Series LLC concept  - I read David Willis' books - it seems he likes the use of Series LLC's for asset protection. 

Instead, I would strongly recommend acting as a "bird dog" or finder and then referring the notes you find to an institutional investor for a fee.

With little $ you can get a website going (to sell what you buy), find motivated sellers, and start flipping property.

Do you have any references that I could look into or should I just do a google search for Securities lawyers in Iowa?

@Andres Gonzalez Welcome to BP, lots of great resources on the website + there is a local meet up as well that's great to connect with local investors.

There are many subtleties in the RC laws in Oakland, so take the time to learn them on their website and you can always go into the RAP center on a walk-in basis and ask questions.

Send me a pm, have a few I could refer to you 

I have several good property managers I work with and would be happy to refer you.  

. :)- IRS form Schedule E for reference.- Any expense on line 18 "depreciation" can be "added back" to income no questions asked (your new roof being depreciated over X years being a good example), meaning that it will have zero impact on your DTI.- Any expense on line 14 "repairs" can only be added back with a bunch of supporting documentation matching exactly & based on a human underwriter's judgement call on the "one time" nature of it (and how that underwriter's mood is on that given day) on a one-off basis.