A DSCR is a debt service coverage ratio loan (against the new property) and effectively uses a proportion of the current or proposed rental income to qualify.

My partner will be general contracting at no cost, although he will be paying a few key 1099’s and contractors .

We have learned a ton and I want thousands of units one day but for now just trying what to do next with this one. ok so the issue is that home was built in 1932 and the heating is an issue in the winter and the heating costs are really high for the tenants.

If you’re not going to make the smart move of selling tax free, and make the questionable move of being a landlord in Ca just because you already own the home…A) No LLC, it won’t help with taxes, liability, or anonymity but it will increase the cost of insurance, taxes, and any financing  (and maybe the bank calls the current mortgage  due.)B) Get an umbrella policy if you are worth more than $1M, maybe $500k  C) Don’t even THiNK about doing this yourself.

This takes seconds and costs pennies to run the reports for hundreds of thousands of loans.

I do like the smaller properties because occupancy tends to stay pretty high and consistence and costs generally are low, but I know we are also missing out on the really great returns on some of the larger properties. 

Also a seller concession is a good tool to reduce closing costs and carrying more than necessary on the primary. 

I have personally not worked on any of these but it does not seem to be anything too crazy.It's an FHA Loan that can be combined with other FHA products like a 203k.I am a Loan Officer for "Correspondent Lender" so I can operate under the rules of over 100 lenders...I would be able to place this in a few hours with 1 email...We would just have to make sure all the boxes are checked...Energy Efficient Improvements Must Be Cost-EffectiveThe financed portion of an Energy Package must be cost-effective.

Purchase price is below $30K, renovations cost based on one contractor bid is $350-500K.- Best way to estimate the ARV.  

VA assistants has dramatically reduced our work in the business and provided 24/7 monitoring for a fraction of the cost of local property management.