Quick rundown of the numbers:Purchase: $130,000  Mortgage and escrow: $1045 Total Expenses: $1195Rent: $1500Total cashflow: $305Primary issue right now is a 2 year buy back term for a DSCR loan that does have a large penalty for that first 2 years. 

Hi, Anyone knows how to put a rental property with mortgage under a LLC in Michigan?

Will these units equal or come close to my mortgage payment.

Quote from @Charles Holder: @Derrick CamerinoHey Derrick, pleasure meeting you =)I am a mortgage broker here in SA, my wife is a realtor and runs a team we invest and our constantly growing our network.Let's chat when you have some free time. 

We feel good about this as it almost sold awhile ago for this exact amount and has been appraised around this as well.I'm in the unusual position of being able get financing from a private lender. 

I am a mortgage broker looking to help the BP community.

Vanderbilt Mortgage is the only one that might be able to finance it that I have spoken too.

We've had a successful rental that has paid for almost the full mortgage since having the home!

Originally, we planned for me to handle the down payment with my HELOC, and my partner would pay me 50% of the HELOC payment each month while getting his own mortgage for the rest (75% of the purchase price).But it turns out he couldn't snag a mortgage for the full amount.

Appreciate it.Trish Via Hi Trish, I'm sending you a private message!