Accountant (who I'm not sure has much real-estate experience) says he cannot take money out of the sale of the house and because it was a rental that we then renovated and sold, we can not use a 1031 exchange and put the money into a new property.

You need to follow the accounting, for lack of better term 

Once you identify another property you can take out a home equity line of credit on your existing property to use as the down payment for property #2. 

Here are some tips for networking and making the most of your account. 1) I'd fill out your profile fully before you do anything else!

Curiously, if an investor has LLCs with business credit such as credit cards, LOCs, etc. when the lender pulls the borrower's credit do they also pull the LLC debts to calculate personal "net-worth" or do they just use FICO data, etc?

This is an average condition house for the neighborhood and area.I have set my screening requirements as:600-650+ credit score3 times monthly rentNo evictions, violent, or sex crimes6+ months of job historySome form rental references.I have an applicant who meets all requirements except I am unsure if he will have rental references because he told me he's couch surfing right now.  

@Braden Jackson WOW...great plan and good position to be in.Lots of different options depending on what you want to do and I would also think your credit score is a huge determining what loan you get.#1...probably right now you best bet is to buy a 4-5 bedroom if you can and rent bedrooms.

The bank I normally worked with didn't want to finance it due to this tenant leaving since they accounted for 50% of the monthly rent.

They have the accounting and marketing systems in place to make this a big success in a relatively untapped market.

Originally posted by Account Closed:Originally posted by @John Weidner:@Jon S.2000 sq ft for $1500....ceilings, trim, wallsPretty aggressive pricing.