At the same time, 1 to 4 units are still counted as residential for lending.

@Dayton Komarek definitely an apartment, I don’t know if you would like to get fixated in one spot for 30+ years, not counting all the overheads that will require to maintain that liability.

As far as the work history - your college education counts towards your work history, so you don’t need a full 2 year work history to qualify.

I also buy properties for long term holdling, My questions is that if I open HELOC first, will this amount be counted as part to liabilty thus impact ledin hour for future.Thanks BP

Don't count on an inspection finding every little thing that is wrong with it. 

Ozone investors are patient and do not count on the tax incentives to make a deal work or pay a premium.

@Chris Fuhs I've been active in Indianapolis for nearly 10 years and can count on one hand how many MF's we've done there.

That's not counting the tax benefits. 

It is perfectly reasonable to plan for the possibility of coming into some money and needing a place to put it where it will grow tax-free for the rest of your life.Here is a Lara-Murphy Report podcast episode about this very topic.I've written fully overfunded policies, I've written policies leaving "room" in them, and I've written policies with no Paid Up Additions rider at all - because in each case it was the best thing for my client - and in each case it still kept to the spirit of the IBC strategy.IBC training is about understanding the macro-economy, the role banks and the govt played in the last two major recessions, and the benefits of creating your own sources of capital using dividend-paying, cash value whole life insurance.

I had negative $600 cash flow each month, not counting repairs/maintenance.