I currently have a couple properties jointly titled in mine and my wife's name, but want to establish a business entity before my next move.Is an LLC the most common entity for a real estate business?  

Establish the same sort of DTI limits for cars and credit cards as for home loans.

Calif.) for my market these are the mechanics that have worked for me:•Establish the criteria for my previously qualified Buyer (REO’s, Short Sale, Price range, area, type of property, etc.)•Talk to Loan officer about: Down payment, Closing Costs, Rate, Monthly Payment, type of Loan. •Set up my local MLS with client’s criteria and the system will automatically select properties.•Revise properties manually and start showing to clients.•Once my client likes a property, then I work getting comp’s, client gets estimates for Repairs (only if property needs).•Write up an offer taking in consideration the points above mentioned, Lenders in some cases are asking for cross-qualification, before submitting an offer.•If offer ends up as one of the finalist (only when the property is price right), Lenders gets back with a Counter Offer and Sellers Addendums.•If your Agent keeps communicating with Listing Agent and responds fast, then you’ll get your offer accepted, after that time to get in Escrow.You may need to call local Buyer’s agents before you decide.Noe R.

Before you go looking, establish with a local lender what you will qualify to purchase.

So now I guess I am a learning developer with the backing of an established development firm of course (financially stable).

It just happened to make a great, professional, corporate, established name.

The longer you hold the property for investment purposes the stronger your case will be if the Internal Revenue Service questions the sufficiency of your intent.Advisors Recommend Holding the Property for 12 Months or More Tax advisors frequently recommend that you hold the subject property for at least one (1) year to prove your intent to hold for investment.

On the nicer homes, you will be (i.e. need to be) establishing a vacancy reserve with 8% of the rent each month, and that will tide you through the turnover, simple as that.

Establish a relationship with a good mortgage broker who will keep you informed if they don't wish to keep you in the loop, get another lender.

You may want to establish breed restrictions.6.