Hi Chris, I don't have any context regarding the seller's situation so no comment on the land trust.

this is regardless of furnished or not.if you do not get rid of the tenant, the situation will degrade.  

Loan is 4.25%200,000 left on mortgageValue 400 conservativelyrefinanced in 2019 so about 5 years in. 

I own a mortgage company, so I have my loan officers use this Fannie Mae income calculation tool for all business for self borrowers: https://singlefamily.fanniemae.com/applications-technology/income-calculator .

This year I may see if if I can get a construction loan to build 20-30 apartments, then refinance with an asset based lender. what markets?

Learn local landlord-tenant laws, FHA and VA loans, and property management software to streamline rent collection and maintenance.

Lastly, if you need help with a loan or want to talk, shoot me a DM or email!

You have not added to much difficulty in terms of tax preparation, but in terms of tax record keeping you definitely have.I am not a tax professional, but having been a landlord who has tried(and failed) in my own tax situation, I would love to help point you in the right direction.Being your first year, it is all but a certainty that you have taken a loss.

Prioritize deals that offer steady long-term returns over ones that seem too good to be true.DSCR Loans for Growth:Debt Service Coverage Ratio (DSCR) loans can be a game-changer for investors who want to scale.

Your best option is a Conventional or an FHA loan.