Our plan is to hold long term (10+ years) and likely pay it off in 5-10 years to act as supplemental retirement income which we plan to get to with a couple more properties paid-off in Tulsa eventually.Would you pull the trigger on these two properties based on our goals?

Finding good income generating properties does open up some creative financing opportunities but it's good starting out to stick to a comfort range.

So correct me if I am wrong but doesn't an increase in rents decrease the cap rate since the property is more stable with a wider spread between gross income and the operating expenses

So while it feels like I’m making the right decision by looking elsewhere, and Phil’s brand is, at best, tarnished to me by this experience, has anyone had legitimate, W-2 income replacing success through Freedom Mentor?

Let me know if you’re interested in coming.

You have 2 limiting factors: lack of consistent W-2 income and minimal capital.

“There is hereby imposed on the taxable income of every individual … a tax determined in accordance with the following table:” 26 USC Sect 1 Tax on Individuals: (c)Our Congress further defined what “taxable income” is;“gross income less allowable deductions”, 26 USC Sect 63.And “Gross Income” is defined as;“all income from whatever source derived”, 26 USC Sect 61.Which specifically includes rents.

We did not need help in deciding what our investment niche would be; we needed help in creating and implementing a tax strategy plan for a married couple composed of a high-income earner and a real estate agent and business owner.

Down payment can be higher than primary, but the good thing is that you won't need that much income to qualify because lenders can you 75% of the market rents for the units of the property.

DSCR is no income no doc .