I  Income:  The amount of property you can buy will be dependent on your Debt to Income ratio.  

It can still qualify if it's a fixer-upper, as long as the rental income from the property can cover the debt service.

If the floating rate debt starts costing too much and there is no capital to replace a rate cap, reserves run out.  

If the deal is residential 1-4 units, I'd aim for 30-year fixed-rate debt. 

2023-2024 DECIMATED my already broken finances and killed my 15 yr run being debt free with paid off rentals and a house near the beach in the Ca.

Weirdly, you may actually be able to get better terms and/or more LTV on the refinance if there is debt on the property as lenders have rules for max cash in hand (max proceeds you get at closing) for cash-out refinances.  

ARV - Profit - Repair Cost -Reserve Cost- Cost of Debt- Fees = "Strike Price"Thank you for the insight. 

We raised $4.5 million in equity and got $4.5 million in fixed rate debt from Freddie Mac at a 5.85% rate.

After 20+ years in real estate partnerships, here's what actually puts you on the IRS radar (and what doesn't):REAL Red Flags That Matter:The Partner Complaint TriggerDisgruntled partner files Form 8082K-1 disputesPartnership disputes leading to tax filingsReal Impact: Instant IRS attentionSuspicious Loss ClaimsLosses exceeding investmentArtificial basis inflationSudden large losses without economic realityExample: $100K investment claiming $500K lossesRelated Party GamesCircular property flipsBelow-market transfersFamily partnership schemes without substanceWatch Out: IRC §267 and §707(b) violationsDebt Engineering Red FlagsBasis inflation schemesArtificial guarantee arrangementsPartner debt shifts near year-endCritical: IRC §752 compliance matters!

In Cook County, Illinois, single action is for possession.