Are you looking to purchase just in your 3 names - and if so, it sounds like your income is good, but you also need to account for each persons personal debt as well. 

3/5/2019Sherelle – thanks for the post / questions and outline Fyi – there are some conventional loan programs that allow a 3% down payment ….I would recommend using this program versus a fha loan program if possible …this is because with a FHA loan the monthly mortgage insurance remains with the loan permanently and with a conventional loan – you should be able to eliminate the mortgage insurance in the future ……Also – if you use a FHA loan for the first home - using a FHA again for next property might be an issue …..you allude to this in your question #2Regarding cash flow analysis ….other items to factor in : utilities / property homeowners insurance ( this will be a little higher when you live in home and should decrease a bit once you convert it to a rental policy / are there any deferred maintenance issues on the house ( roof / furnace / water heater / foundation are the bigger tickets items to watch Definitely get pre approved so you know for certain what you can afford and also so you can begin becoming more familiar with the numbers …we can assist with this if you want - contact us Thanks and I hope this helps Dave Skow 

If carbon monoxide detection is not provided, carbon monoxide detectors should be installed to eliminate a potential safety hazard in the event that the gas appliances malfunction and do not function properly.

Just remember you should only use debt to increase your productivity.If you need to do something major like buy a vehicle in the name of your company, I'd start with the bank or credit union that you have your business accounts at.

This was my main question, if I pull out a HELOC now and then sell the house after, is that money considered for Capital Gains tax since it’s technically a debt?

I used a simple loan calculator, and my debt service would be 11K/month on income of ~16.5K/month (+5.5K cash flow/month), which dwarfs the cash-flow freed up by purchasing an owner/occupied in California and saving on rent. 

Take 50% of the rent and count that as going to expenses(taxes, insurance, maintenance, capex, vacancy) then deduct your debt service(mortgage payment if you finance) from the remaining 50%. 

I owe roughly $2,500 in credit card debt and once I’m free’d from it, my plan is to save save save for my first rental property.

That way A's DTI problem is eliminated and I can cash out from B. 

Assuming you own your own home that means you can pick up 9 of these bad boys IF your credit, income & debts are all good & meet the traditional Fannie & Freddie guidelines.