My hang up is 1) I've never done a deal before and I don't feel confident going through this transaction solo at this time.2) I'm not sure what I want to do is legal, or if I need to disclose all of this information to the agent, the other investor or if I should try to find someone to JV with me on the deal. ( If I do JV, how do I ensure I get compensated?)

This will have their full legal name, address and EIN.If they check a box indicating that they are a corporation, then you do not have to send them a 1099, but it does not hurt anything to do so and I always do it anyways.LLCs, Sole Proprietors and pretty much anybody other than an S or C Corporation should get a 1099.

Take every piece of paper and every saved text message you have between the parties to a new lawyer.

Do not rely on it as legal advice.

They also require an appraisal(that gets paid to a third party).Other closing costs such as title search fees, recording fees, real estate taxes are costs that you would pay regardless if you acquired the home through a mortgage or HELOC.What consists of the $3500 fee?

HI Roxanne,It is true you need to be in the business for 2 years but no one talks about the details about how that is documented which is either by:- Looking up CA BRE website consumer licensee information which will show how long you've been licensed- CPA letter to sign/date on you being self employed for 2 + years or 5+ years if you're using Freddie Mac's program since Freddie specifically wants 5+ years to use 1 year tax return- or another third party to verify you've been SE (self employed) like business licenses, attorney's, other auditor or licensesWith regards to income like others have mentioned you can use 1 year tax return to base your monthly qualifying income off of.Freddie mac, like mentioned above is a a conventional financing option but the downside with Freddie is they want 5 years in the business as documented with one of the options above.

So you need to add an addendum have it rectified by all parties.

I know I'm a little late to the party, but I'm interested. 

We normally get it as a credit, unless it’s held by a 3rd party(pm).You can consult the lease agreement for each tenant, if the LL says someone only paid some or non, you need to get estoppel forms signed by both the LL and tenant, or just risk owning the tenant money they never really paid the LL.

If the garage is "deeded" then the legal description of said garage would appear in the deed.