Also, banks charge a higher interest rate for Non-Owner Occupied (NOO) loans.

It's my understanding that we will need to file a partnership return and he'll also need to file a 1040-NR that will require quarterly filings on his RE earnings since he is a non-resident alien filer.

We reported this fee in box 7 of the 1099-MISC as non employee compensation.

I guess my situation could be worse, but I have a great multifamily under contract which very conservatively needs about $20k worth of work to be 'nicely' fixed up- new stucco, paint, carpet, updating bathrooms and ki...

I am clear with them that the app fee is non-refundable and that we do run a credit check, not to check their credit score, but rather to verify the information they put on the application.

We are looking to buy only one non-owner occupied property as an investment and are looking at bottom of the barrel stuff, so I don't think a team or investment specialist would be interested in dealing with us.

Most loans are non assumable - if you went to the bank, they would likely tell you to get lost.

Out of three exterminators, one told me the damage was old and likelydid not need treatment.

On the non-permitted unit, can you move that tenant to a unit that will be freed up by one of the two in default?

We are a non-judicial state, so I can't see a huge delay.