What is the fastest way to build your client base if you are new to becoming a loan officer.

It is cool tracking others progress.

I do not make as much money as the guys in the hood, but I have a lot less stress per unit and the checks come to my office on time for the most part on the first of the month.

2-Find out their business ownership/management experience, nobody wants to set someone else up for failure3-IF they don't "need" the apartment, You should advertise & secure a tenant 4 them, w/1st/Last/& security, so that potential "problem" w/both future lender & appraisal is already dealt with (read=documented INSTANT Cash flow, more appealing to buyer, & Lender), preferably w/a nice LONG lease (say 2yrs w/a 1 year extention option)4-Holding a Seller Second makes this a VERY "do-able" transaction, just need to make sure borrowerA-Has great creditB-Good ReservesC-Proven Track Record in Business (4 self or others)D-Realistic Business PlanE-The Guaranteed ability 2 make the paymentsIf they have their act together, You'll know who they are...Let me know if I can be of further help, I've arranged financing on over 200 commercial transactions, & over 50 mixed use subject properties5-& Very Most Importantly....Don't be afraid to "owner finance"..

As a property manager for 40 years, the biggest mistake is thinking that being a "landlord" is easy....that purchasing the RE is the hard part and that the rest is downhill.Newbies who go to Staples or Office Depot, get a generic lease, put a sign in the yard and get blinded by the CASH flashed at them by the applicants who smell the "new landlord" on them.....and then they don't see any more money for 4 to 6 months.

Does anyone have the offical IRS TAX DEFINITION for this term?

If you keep receipts for all business expenses then you can claim those again income (things like cell phone, office space in your house, repairs and more are all possibilities).If you're not a sole proprietor then you are probably better off just hiring a tax accountant to do it for you.

I'm a mortgage loan officer in Youngstown, OH.

This is always an unknown until your mortgage loan officer has all of your income documentation, although, if he/she was using any rental income to qualify you, they should've known that they would need the 1040's to verify income.

Please ask me anything because if I dont know it, I have 100 Loan officers that do, or give me awhile so I can search it and give you and answer.