Contact the broker and ask for current operational numbers.

He says that multi family investment property loans are based on the operations of the building (rent/expenses) and not your income.

LLC's have operating cost and you don't want to incur those costs then never purchase.

I have yet to see or hear a single guru talk about the difficulties of the business or discuss the truth about operating expenses, cash flow; or other serious matters.Having said all that, you will certainly read many books and articles while acquiring your education and starting with one book as opposed to another isn't terribly important.

I cannot go for this without first asking here...This looks like it will cash flow but I must keep in mind that I have to repay that HELOC or Refi in a year and cash out if possible.Price: 123,500.00Down :3% 3,705.00Closing Cost: 1490.20Repair (Heloc at 5.24)% 20,000.00Out of Pocket: 25,194.20Mortgage Rate: 6.30 Rental Income: 2,250.00 Monthly AnnualGross Potential Income: 2,250.00 27,000.00Total Expenses: 1,265.00 15,180.00Net Operating Income: 985.00 11,820.00Debt Service:Mortgage:741.50 8,898.00Cash Flow:243.50 2,922.00

There has to be a way and I thought the S corp had ability to retain earnings in certain situations since it is deemed operating capital for investing.

Zoning changes are virtually impossible around my area.The gigantic developers seem to be able to do it occassionally (but not always).

Also, I believe http://www.nehemiahcorp.org/ is still operating until October 1 so the seller can pay closing costs and the 3% downpayment.

Get an EIN for the LLC or operate with the member's SS#?

Typically, as you know, with apartments the seller/broker gives proforma numbers, we as investors say, okay but I need operational numbers.