Then they will look at your Schedule E from tax filings to see what the real numbers were that you reported to the IRS.FWIW, 650/month for a 60K property is not a good deal. 850/month for 60K property is decent (by my standards if not by all), but still not awesome.

This is a great thread, Kenneth E.!

But I'm concerned that if this Schedule E was audited it might be a problem that the lender is the same party as the renter, so the transaction isn't at arms length even if the rates are reasonable.

I am glad to be here.My name is Steve E.

Kenneth E. nailed it :) Also, sometimes people will never change.

You need a r/e attorney at this point.

I think one of the best ways to track the success ROI can be by marketing channels such as social media, e-mail marketing, and advertising.

Kenneth E. posted a fantastic list about this last year - you can see it here: http://www.biggerpockets.com/forums/93/topics/76751-finding-motivated-sellers-my-list

If its from some other source, it will help your DTI.Once you have rentals on two years taxes, lenders will look at the actuals from your schedule E.

http://www.realtor.com/realestateandhomes-detail/2907-E-28th-St_Kansas-City_MO_64128_M80660-27783 What do you guys think about this deal?