I will need to put 25% down for the loan and will need to show 6 months worth of expenses in additional funds but beyond that should I also have $X set aside for the first year's expenses?

Recommendations based on personal experience would be highly appreciated.Also, if you have additional info / best practices you would like to share regarding homeowners insurance that would be great.Thanks, Guy

@Nathan Platter shouldn't a wholesale contract include language such as "the buyer and/or assignee" Or do you just throw that in the additional terms of the standard residential agreement?

Additionally, renting is a passive activity, so the losses are limited.Flipping is active income.

(In addition to the 90k equity left in the deal)Hope this helps!!

Lubbock has quite a few SFR with a detached back building than helps draw additional rent and adds doors.

A cool trick is to double-click a word in any post and add it to your keyword alerts without leaving the page.An unstoppable entrepreneur myself, I have been mentoring start-up entrepreneurs and business of various industries and niches for two decades now.

In addition, I spoke with my lender and I can qualify for an additional $225-$250K conventional loan for a “second home” because I didn’t borrow against my entire income to purchase my primary residence.

I should also add that in addition to the 100k I have liquid, and the 55-60k I can get against my house, I can also qualify for 500k based on my income and expenses, and use the 100k liquid as the 20% down. 

I have given many references and even book options for case law and code statute and even said go ahead and email me and I will send you additional 40 +page summary just on the LLC with caselaw and codes etc from some of the best AP Attorneys in the nation.