Thank you all for your feedback.Mary,Have you contributed to or loaned any money to the corporation?

And while a lease and option transaction in excess of three years IS a contributing factor in that determination, it is not the only factor.To determine whether an arrangement is a lease-option or a sale, the IRS examines all of the facts and circumstances surrounding the transaction.

Start writing what your goals are---in detail, what you are learning, gems contributed to you from others.

We do manage ourselves (hubby is a SAHD, so this is his contribution to the family income).

I put a healthy amount of money in my 401k and contribute about half of the maximum to my ROTH 401k.

I did not need money every week so for every day I did not collect pay we counted that as my monetary contribution to the project beside my labor. 

We all like to help here in the forums, at local REIA meetings and such, but a mentor is a high level of commitment on both sides.What are you offering/contributing in return for the help?

how does contributing to a traditional IRA affect an application for a mortgage?

Max out your Roth or traditional IRA and if you get a decent match on a 401k in your company then max out your matched contribution.

@Christopher HunterFrom what I've picked up (and you can find this on other posts) cap rates for what are considered residential properties (4 units and less) is not as meaningful for an investor as for 5+ units.