Creditors and lenders are not required by law to report to credit bureaus.

So I require all of my sponsors at this stage to have at least full real estate cycle experience with little or no investor money lost (and the more cycles the better).

Original Purchase Price$305,000Down Payment$28,793Closing Costs$11,527Rehab Costs$80,500Mortgage Costs$30,056Utilities$1,275Taxes$2,729Insurance$1,251STR Furnishing$10,142Total Costs$125,953LTR Income$7,000Net STR Income$21,234Total Income$28,234Total Capital Invested$109,246Appraised Value$540,000Loan LTV%70%Loan Amount$378,000Mortgage Balance$325,148Closing Costs$9,805Cash out$43,047Net Capital Invested$66,199Starting Equity$133,207Value Created: $67,008Hours Worked: 595Hourly Wage: $113I was only able to refi at 70% LTV, so I left $66k in the deal.

Reach out to your local Section 8 office, they can tell you exactly what "minimums" are required for the program. 

It will require some work but we are extremely hopeful and excited. 

I did a credit check, criminal background check, got pay stubs, required income 3x rent, and got employer confirmation and prior landlord reference (but I never got in touch with the prior landlord successfully)

A multi-member H/W LLC in NC will require filing a partnership tax return.

Other office activities required?

It's not uncommon for conventional financing to require points on investment properties.

The three tests outlined above are applied annually, so you may qualify as a real estate professional in one year and not in other tax years.It is also very important to document material participation.To meet the requirements of real estate professional status, it’s essential to keep detailed records of activities and time spent working on the properties so you can verify your real estate professional status in the event the IRS decides to audit your return.For example, you may keep a contemporaneous appointment book, calendar, or narrative summary of the time spent performing real estate activities.