An umbrella insurance policy may be sufficient (vs. the LLC).You'll want to run your numbers and determine if your current home will perform well as rental. 

And unless you have specific requirements, the templates are likely to be sufficient for your needs. 

If you are planning to live in one unit of a multi-unit property, an FHA loan can be a great way to finance with a low down payment.FHA guidelines require the lender to complete HUD form 92561 to determine "Self Sufficiency Rental Income Eligibility."

I majorly regret my choices of choosing both parties, and knowing what I know now about the process I would have stayed away.

I offered the tenant a choice between a room and compensation.

If I saw the trimerged mortgage report I can advise and fix it.There are a couple choices with the single score if they are not ITIN or foreign national.Does borrower have the reserves to make the file fly?

BP,Crazy to think that starting January 1, 2023, you can use a FHA primary residence loan to purchase a small multifamily with the following max loan amounts in Washington DC:Duplex- $1,394,775 loan amountTriplex- $1,685,850 loan amountQuadplex- $2,095,200The triplex and the quadplex are significantly restricted due to the "self sufficiency test" , making the Duplex the most realistic option.  

The funds in question are more than likely not sufficient to purchase a property outright. 

many of the big institutional buyers do have age limits.. and that usually is homes that were not built with lead paint at all.but in a lot of markets especially big east cost upper mid west housing stock is old you have no choice,.

If you analyze the three choices (traditional, Roth, or none), you win if you lower taxes and lose if you don't.