I know I will have to pay incomes taxes as apart of this conversion, but I've been doing some reading and can't seem to understand if I will also be hit with additional taxes as a result of something called "pro-rata rule".

In addition, those terms seems too good to be true for a legitimate HML.We have funded many deals in NJ and we are local, I'm sure we can fund your deal if you want to work with someone local.

It seems everyone wants to trade up to larger buildings. 

We've discussed it with a few prospective tenants and they seemed genuinely happy about the suggestion.If you want your landlord to start reporting your payments to help build/solidify your credit, I think you should talk to them and see what options they can come up with.  

To me it seems I would be able to get a loan with little question if I had cash in the bank..  

Don't sell yourself short, you seem to be doing ok already, you reached out here!

I purchased my single family home a couple of years ago and since have it rented out.  I use a property manager so that is an added expense but he has been a god send to this point.  My issue is, that I have run all o...

I don't have calculated statistical data to back this claim up, and it could be regional, but it often seems that appraisers are more generous when it comes to appraised market rents than they are when it comes to value.I'll not bore you with the math, but the arithmetic is more generous if you do not intend to live in the property than if you do intend to live in the property (If you aren't going to live there, it is in theory possible to have a calculated DTI of 0.000%... which is in part why commercial financing uses DSCR not DTI). 

Locate areas that generate $900- $1,100/month and you're getting in to what seems to be a sweet spot in Columbus.

Seems to be a general concept that you have to start with wholesaling to get money to do flips.