Typically those lenders pay more and are better to deal with less hassles.

Realized it would probably be cheaper on a monthly basis to have a mortgage there rather than pay rent for another year.

This could be a sign of strong negotiating skills among sellers or a market where buyers are willing to pay close to asking price.Finally, the Median Sold Price is $576,500, which gives sellers an idea of the average sales price in the current market.

Now you need to figure out how to find deals and pay for them.

You would need to document your hours along with the hours of anyone else.Do you plan to pay this 'co-host'.If you list that as an expense on the return it would likely turn as a flag in the event that you get audited.Best of luck.

It is the funding that I am lacking.I feel that I am in a stalemate and the only way to purchase my first rental property is to generate more income than I am right now to get to the point of being able to pay the downpayment.Thank you all for reading this post and I appreciate any responses and advice.

., pay off their existing loan, closing costs, and/ or put some cash in their pocket, etc)There are 2 "legs" of the transaction.

Most multi family is on one furnace/boiler and the landlord pays the heat.

@Mark C.You are going to create a tax and accounting nightmareYou will pay taxes in each state you own property (typically) aThus each LLC will need to file in that state then you roll up to you which just adds more expense to your tax returnsYou will end up spending thousands of dollars per year to get taxes done which will eat any cash flow from making it so complexKeep it simple

With the current rental you intend on selling to pay back the private funding, does that cash flow for you?