Also, they won't provide a loan if owned by a LLC.Seek a portfolio bank that does not sell to Fannie/Freddie and they will loan to an LLC and will not cap it until you cannot meet their debt requirements.Send me a private message for a contact at a local portfolio bank.

Time is against us as we have to get our contractor quote to our lender ASAP in order to meet timelines.  

I have had a meeting with the companies legal department and they stated a few things which I will list below. - The new company must be a corporation. - I will have to be an officer of this corporation.

Currently, I am meeting up with a few investors with larger portfolios and experience in the field and learning all I can from them as well as networking and creating some contacts.

We are marketing with Jerry Puckett and working to find deals in Tarrant County.We would love to learn from others and if we can help each other we would love to meet up!

We're having our first live meet-up!

clarification: when the property was purchased, tenant had preexisting lease which is scheduled to expire in a year to pay rent to the previous owner.

I was able to fill each space with photographers, hair salon, insurance agent, recording studio, background check company, cpa, medical massage and a 3000 sq ft floor to a non-profit dance studio.I often bring the group together for happy hours on my dime, networking meetings etc.  

I plan to qualify as a business and meet the criteria for the home office deduction.

I also really enjoy the weekly live webinars and there's a monthly Northern Atlanta Real Estate Meet Up meet up that's awesome.