My understanding is this: If the OP is a joint filer then one person in the household should not have a W2.

Some of the most common forms of a partnership are creating a Joint Venture Agreement or creating a limited liability entity and adding partnership language in the Operating Agreement.

Jesse Rivera I would structure it as a joint venture, that way the bird dog is entitled to part of the profits of the partnership.

Germain Act carves several exceptions in which the lender may not enforce the "due on sale" clause:Exemption of specified transfers or dispositionsWith respect to a real property loan secured by a lien on residential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation or on a residential manufactured home, a lender may not exercise its option pursuant to a "due on sale" clause upon: The creation of a lien or other encumbrance subordinate to the lender's security instrument which does not relate to a transfer of rights of occupancy in the property;The creation of a purchase money security interest for household appliances;A transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;The granting of a leasehold interest of three years or less not containing an option to purchase;A transfer to a relative resulting from the death of a borrower;A transfer where the spouse or children of the borrower become an owner of the property;A transfer resulting from a decree of a dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property;A transfer into an inter-vivos trust in which the borrower is and remains a beneficiary and that does not relate to a transfer of rights of occupancy in the property; orAny other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.The Federal Home Loan Bank Board, which was disbanded in 1989 and replaced by the Office of Thrift Supervision, takes the absurd position that the Act only applies to owner-occupied homes.

Based on my experience you should have all adults over 18 complete an application and all be parties to the lease where they are jointly and severally responsible for payment.

It states that if you lived int he house for 24 of the last 60 months before the sale you can exclude up to 250k of gain (500k if Married filing jointly).

The tenant can pay online through ACH or with a credit card and everyone stays up to date through the owner portal.

Hello everyone, I hope you all are doing well and starting off the 2022 year right. I wanted to start a line of communication for this specific investor category. Specifically, for high income earners (1099/W2) who ha...

@Charlie Moore We do a full video walk-thru on every property our clients write an offer on...always starting in the basement or crawl if available...we look atFoundation for signs of deterioration of damage, or signs of water intrusion or settlingHot water tank or boiler...basically just age and general condition hereHVAC/Duct work...age of system and type of duct work...looking for asbestos wrapped joints as well...and possible code issue with gas linesElectric panel- to make sure its updated and there are no obvious issues...Floor joist to make sure none are sagging or crackedExterior we look at all componentsRoof- general age and number of layers if its shingleGutters and downspouts- for damage and drainage...water needs to get away from the house and foundationSoffit/Fascia- for obvious damage or wood rotSiding- general condition and damageWindows and doors- general condition and functionGrading/drainage..porches and sidewalksTree location and possible root damageInteriorGeneral condition of flooring and walls/ceilings for any damage or defectsElectrical fixturesPlumbing- supply and drain lines...as well as condition of fixtures (faucets and shower/bath)Proper ventilation for ranges/stoves/bathrooms with no windowWobbly, leaking or broken toiletsCondition of appliances if availableAtticVentilation through ridge vent or whole house fanRafters/trusses in good shapeRoof decking for signs of damage or water intrusionLevel of insulationHazardous materialsAsbestos Underground storage tanksOh, and make sure the door bell works ;)This is just a first pass before we decide to go for inspection where we'll get more detailed...looking at all this stuff usually takes 15 minutes...pretty easyGlad to chat more...there is a lot not covered here

So you set up a joint venture and at some point you buy them out. 2. get the seller to hold the mortgage for you.3. look into private lending4. see if you have more family who will lend you moneyThere are other creative ways.