done.Please correct me if i got that timeline wrong!

I am assuming you are leveraging the increase in rent to increase maintenance and repairs, etc. rather than just telling them rent is increased, correct? 

@John Woodrich is correct on the complexity. 

Correct?

If your plan is to hold the property forever that is great, but maybe the correct move is to sell the property and roll those gains into a property that would generate more revenue and growth potential.

  $50,000So I am correct to assume it would be 20% on just the Schedule C income?

Your length of credit is tied to your longest-open card, so closing an old card that you don't use anymore isn't a great idea.Go through your credit report and make sure every item is correct - anything that isn't, file a dispute.

Good to hear that my instinct was correct. 

The reason why I like this strategy is:- Seems like lower risk;- If numbers are correct, its not much out of pocket;- Seems like a good way to get feet wet, get a rental & some positive cash flow.My concern is:- I speak with investors all the time who started off in SFH and they all say moving forward their strategy will be multi family.Any insight is greatly appreciated!

@Ronak Shah you are correct, the IRA account owner considered "disqualified person" to his/her IRA and as such not allowed to provide personal guarantee for the loan to the IRA.