Sounds like you have a solid plan for your real estate investment journey - love your plan to explore the FHA option.

@Michael Heredia , Sorry to sound as smart *** but I would guess if you know how to prorate expenses, you can do it yourself. 

You SHOULD be wary of deals that sound too good to be true.

Hi Alfred,It sounds like there is some gray area here, but I don't think the PM should charge you 1/2 month's rent for running a credit/background check and then drawing up a lease. 

@Sarah London sounds like it's a bad deal if you're looking for cash flow.

It sounds weird but some will not use rental income until it reports on the tax returns for residential loans. 

However, it today's hot RE market that sounds too good to be true. 

Chad, before I start, when I see someone making a loan at 12% interest, it sounds to me they planned to sell the loan at par or very little discount to someone in the industry... big mistake, because industry folks buy at discounts, no matter what the interest rate (at least I do).Anyhow, here's a quick guideline for you when selling notes: How do I plan to sell this loan?

However, it sounds like they're just being awkward, though. 

Sounds like you don’t know the balance of the heloc.