Having a job in addition to managing 10+ rentals can be a slippery slope if your in that situation.Best of luck!

He suggested that we also seal the brick with a waterproof sealant like a clear Drylock just for that additional level of protection.

A higher credit score can help you qualify for better loan terms.Debt-to-Income Ratio: Lenders often look at your debt-to-income ratio.

One such type of loan that plays a crucial role in commercial real estate financing is the Debt Service Coverage Ratio (DSCR) loan.

After that, we split the revenue 50/50.I was interested in a preferred return of 8% for the LP and then a 50/50 split if not 60/40 split favoring the GP for all additional income.Here is my reasoning.

These are professionals with additional training and a stricter code of ethics.

I need to figure out how to get debt on the property without any income. 

In addition as you talk to contractors/tradesman they will often steer you to a solution that may not be best for you.

Along with various other expenses such as HOA fees, utilities etc... the only thing you are not really factoring into the NOI is the debt service (mortgage). 

It's a great opportunity for my family to have some additional income down the road.But man, it is tough telling a young family with 3 kids that aren't going to be allowed to rent the house due to prior collections owed to landlords and vehicle companies.