(Yes, I know it's more expensive in SoCal.) 

I'm planning on acquiring a HELOC on my primary residence to help me with the down payment/expenses of my first investment property. 

This criteria is for 1-4 and 5-8 unit programs.I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

(https://audr-apps.franklincountyohio.gov/Calc/TaxEstimate) Based on that estimator, with the current purchase price the property tax would be ~2.5x of what is currently being paid.

Additional expenses include property management at $142/month, property tax at $1700/year, and other costs like insurance and maintenance.

-Most leasees never exercise so 3 to 5 years from now... you keep the option fee, and had the benefit of rent that was probably above the market rate for your area.The drawback is that you don't get the ~$250k(after selling expenses) to play with. 

Amount you paid and the amount owed don’t matter for the replacement requirements.they only determine the amount of taxes you’re saving and the amount of cash you must reinvest nYour replacement needs to be $1M  minus the $80k in closing costs, $920k or more. 

With Apartments.com I can automate rent payments, have the security deposit paid, and have tenants upload their proof of renter’s insurance.Challenges of living with other roommates and renting by the room When living with roommates there are always challenges.

As an owner, my monthly expenses are lower, so my cash flow is closer to $700. 

Hello All,I am looking to buy a rental property with my parent (full cash no loan) and we are trying to figure out how we should set up the agreement in order to get the least amount of taxes paid and most amount of profit made.