Generally yes a HELOC will go off your personal finances so qualifying is generally based on your income, liabilities, and credit. 

I was very skeptical and cautious because I was relying on these business lines of credit to make this deal possible. 

And for them rasing capital on SM BP facebook whatever has been fairly easy compared to others who dont have a big SM or BP presence. 

Back to the DTI, if you want a quick down and dirty way to do it, start with the bottom line 24 on the 2024 return, then add back in Depreciation (line 18), and possibly interest expense (lines 12 and 13) IF it's also counted against your debt in the liabilities section of the application.

After a quick drive by of the property and some online research, I submitted my offer and it was executed by lunchtime.

I understand this may have an affect on the appraisal.

Background on me: I need to obtain a graduate degree for promotion at work, but it can be in any field at low-no cost to myself.

This is my personal opinion, which probably won't be popular.If you are worried about the cost of hiring an attorney to create a proper operating agreement for your LLC, you probably don't need an LLC, and if you choose to use an online site to create an LLC, you probably get the protection you paid for.

Also, there is a lot of new competing rental supply coming online in these areas and a few of my developer friends mentioned to me they are seeing downward pressure on new build rents.

I'm not sure what your specific market is but especially on a new build their is some kind of TIA budgeted by the ownership.wast that negotiated as part of your lease by your tenant rep?