Their reportable income is low and most of their net worth is tied up in their share of their business.

How do they pay rent, how do they report maintenance, and anything else you need them to know.

Since the the LLC is owned only by my wife and I and the previous property was only owned by my wife and I, at a federal tax level, there is no difference in how it would be reported on our taxes since we file jointly. 

You'll have reporting requirements with the IRS (like Form 5472, among others) and the penalties for not filing correctly are $25,000 plus.

Along with the record of survey is a requirement from the surveyor to get a preliminary title report.

One thing to note is that you have 30 days to shop other mortgage lenders and all will have the same credit report to work with. 

Here is why you'll be approved:* a bank has already loaned your business money (business credit cards); Dun and Bradstreet, Experian Business and Equifax Business have all reported your business credit cards. * the added trade references will add credit profile depth, as will uploading your financials* your deposit activity and use of bank products (business credit cards) shows ability to repay* bank rating is formed after 90 days of deposit activity

View report*This link comes directly from our calculators, based on information input by the member who posted.Trying to buy my first rental property.

Any help much appreciated.View report*This link comes directly from our calculators, based on information input by the member who posted.

Should I go with the seller report or do I need to get it done myself. what could be the red flags.Any comments/experiences please share to educate me.