Also, I believe I have practice on those same nights as the BIG meetings which puts me in a difficult spot.Thats why I joined BP, so that I could speed up the networking process!

It simply isn't practical to take out small loans unless you have an opportunity to make a lot of money with the proceeds of that expensive small loan.The way his business works is that he sells the note to an investor (full disclosure - I bought a small one last year to "break the ice") and he earns his money on the fees, not on a spread on the interest rate.

Just wanted to hear some feedback and see if this is good practice as a landlord and rental property owner.

Some properties are self-managed, so we create an invoice for each tenant, and mark them as paid as rents are collected.When collecting rents that go through property managers, I am not sure what the best practice is in QBO.Should I be invoicing the tenants (and then sending these invoices to the property manager), or invoice the property managers?

Be practical about you true costs and also exit strategies.

The limited impact extra payments have on the interest applied to the payments you are paying makes it sound good, but in practice it proves to be a waste of good money.

The lender would include net rental cash flow as part of the income qualification for each subsequent loan to build the portfolio.My questions are:  is this standard practice? 

Stated income is practically gone.Seasoning is a huge issue right now.A NOO loan will currently require up to 6 months of seasoning.

That's called a 'meritocracy' and I like playing on that field.In the meantime, just in case, whenever I get too worried I just look in the mirror and practice saying: "Can I supersize that for you?"

Like all entities though, strict accounting practices are essential to isolate you from the entity, very important to keep the vail intact. llc's are subject to charging orders so the veil can be breached.