Sole proprietors (one person owns all of the business) use Schedule C, Profit or Loss from Business.

Next, you have to argue that you've earned the right to keep that amount of money, where as a "rent" is already non-refundable.What crowd you will get: On super great deals, you get a million calls, a million low "C & D" type tenants, and is that ever worth it for that much work when the property is just fine.

If I do owner occupy, it doesn't change my investment numbers, as I would just consider myself paying the market rent.Triplex (C neighborhood, off a main street) - List price $315,000Current tenants are on month-to-month leases but have been there for 1+ years.REVENUEUnit 1 Rent - $1175 - section 8 pays $1000 - month-to-month lease since Apr 2010Unit 2 Rent - $1200 - section 8 pays $660 - month-to-month lease since Jun 2012Unit 3 Rent - $1100 - month-to-month lease since Oct 2012All 3 units are exactly the same & all include a parking space, so I'm not sure why different rents are being paid.

Hey @Blake C. - a few thoughts. 1.)

Find a great prop mgr who specializes in the C class properties and has experience with that tenant demographic.

Like most questions - It depends.If the title company is willing to use the funds from the second seller to close your deal than no you do not need funds.So seller is A you are B and the end buyer is C.

Most of all though, they are going to be evaluating you for the loan based on the 4 C's which are explained on the 55th BP Podcast.

Should I file Schedule C as well?

Call up your local title company you will be closing with and tell them you need a double closing or a-b, b-c closing but you want to know if they have a transactional lender you can use.

Hey @Cal C. - BiggerPockets itself has been around for 9.5 years . . . today marks the day that the blog part of the site was created.