Even with 75% of the rentals income counted into my new salary i wouldn't qualify for what that home price range would be here. 

But don’t count on the money.

The appraisal will look at it as a long term rental and you be able to use 75% of this given amount to count towards your income, with FHA.

If I just placed my income into the bank of my LLC then will that count as credibility?

Hi BP Fam,If I set up an LLC in, say, Illinois, and then purchase a property in Ohio, renovate and sell it, does that count as "doing business in Ohio" such that I would have to register that Illinois LLC in Ohio as a foreign entity doing business in the state of Ohio?  

I know in the long run, it's going to get reassessed periodically anyway and it shouldn't make or break the deal, but I'm a beginner here and I'm still of the "every penny counts" mindset. 

Once you get down into the smaller unit count, price per unit/door will usually be the driver for price, which appears to be the case in this property. 

Does the deal have to be a buy and hold or does a wholesale count?

Although with syndication experience counts.. lots of beginners in the space.. so one would want to use some caution..

@Tafari Howell I can't count how many contractors have been in your position and taken money from equity, credit cards, etc to make ends meet "for now".