I'd try to find family/friends/network that would want to come in with you on it and share in the income.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $540,000

Cash invested: $54,000

2 unit property

.• Rental Income: Determine potential rental income for each unit.• Expenses: Estimate operating expenses including property taxes, insurance, utilities, maintenance, vacancies, and property management fees.• Financing: Explore options like FHA loans, conventional loans, or portfolio loans.• Cash Flow Analysis: Use a tool or spreadsheet to calculate projected cash flow.Based on your estimate of $300 per month in cash flow, make sure to verify that this aligns with your financial goals and risk tolerance.

If you have self employment or gig jobs you need 2022 and 2023 IRS taxes filed and all the pages/1099/w-2/LLC/Corp/personal and 2024 income.

Ideally, an agent and/or property manager experienced with out-of-state investors (I'm in NY), actively investing themselves, and capable of sourcing off-market deals for BRRRR opportunities.Thanks!

I would recommend LLC with its own bank account to keep expenses and income separate.

They're going to require that you file a form with them every single year (it's Form 3840) and on this form you need to report back that you still own the new investment property, and that you haven't sold it and haven't received the income from the sale. 

You are able to utilize the DSCR 30 year fixed loan which is no income no doc and can have unlimited .

I focus a lot on the income side of things, such as how much they are paid monthly, how long they have been at their current job and/or in the career field.

Richard,Most of your conventional sources would ask for a 12 month seasoning, I think you would need to look for a DSCR lender that can do little to no-seasoning, which might still be tricky.