Outline the rules in a firm way, most tenants seeing that they have no other option will comply.

Sandy,You must buy separate umbrella policy to cover your rentals under IRA, using the same policy would be violation of the IRS rules.

Go to a bank, apply for a FHA mortgage, and then find a great realtor to show you around and look at some multi family homes. $200,000 multi family is easy to get into with $10k cash.

It will apply to the other 4 coverages.

Even with flips they have failed the septic for non-issues which were eventually corrected on their end but caused further delays.A solution to that could be keeping the power in my LLCs name but enforcing through the lease that failure to pay for electricity will result in a 5-day notice and therefore being ground rules for an eviction.

Long term goal is to leave our current jobs to be free to focus on investing and have financial freedom.A) Use equity (HELOC) to purchase a run down property and apply the BRRRR concept for a buy and hold.

Not a requirement, not a rule, not a law.

You’ll need good credit to apply.

Apply for an FHA loan and you can get 3.75% down with a good rate. 

IF YOU SELL YOUR GOOD UNLESS THE Buyers ARE FHA QUALIFIED WITHIN 90 DAY Rule comes Into Play.THERES MORE BUT IT CAN GET COMPLEX DEPENDING ON YOU PLANS.