Misc. repairs and expensesI was told that #1 (mortgage) is not in the calculation, so therefore it is going to appear as if I have a greater income than I expected.

Best bet is to sell it to a non FHA buyer.

Also as your move forward in life, you will have to have proof your ex is paying the mortgage while it is in your name in order for you to remove it from your debt to income calculations to qualify for a new mortgage.

If they ask what it is, explain it to them.I bet the tenants leave in the middle of the night in that area.....

Your best bet is to open the topics you're interested in in a new tab (CTRL click on a mac), and when you're done with it, just close the tab and you'll be where you left off.

Personally I wouldn't bet on rents increasing, let alone more than inflation.

- I don't understand the question...I bet Jon meant to write "How much work to get it ready to rent?"

I calculated everything on 11 months occupancy and got a 12% COC renturn and as you said it goes to 16% on a full year occupancy.

I have worked with a few of them; although their LLC status is pretty much irrelevant in the accounting side.Talk to a reputable attorney on the matter; however, as Bill Gulley said Insurance is your best bet starting out and equally important as time goes on.

Your only salvation might be owning a particular phase of the project that might be peeled away by lenders, but don't bet on it as the problems arise through the HOA of the PUD, if it is a PUD.As to slick thinking circumventing lending regulations....with multiple entities....bad idea.