Do a joint venture or use private funds.

We have reviewed your joint applications, and presently your total household income doesn’t meet the qualification for rental income (income 3x rent).

A few of them have been joint ventures.

Does anyone know where I can get a template for a joint venture agreement?

On the contrary, I will opine it is the bank's business to know where their money is going beacuse it has to be paid back. banks are not in RE business but must ensure thier funds come back......By the way, I agree with your response to tell the bank the truth...it will save you a ton of head ache if the transaction goes south!

Joint venture.. 

Couple thingsGet inspector in there and there may be more problems than you think be secure in certain about how much work that needs to be doneYou can't rent a defective property or dangerous propertyWhen I have a minor rehab I might do a joint venture with the seller, Buy subject to, get private money to fix the property up, list it, sell it, and take a JV fee of say 5000 to 10,000You could offer the commission to the current agentYou go be very cautious with subject to The bank can call the loan due at any timeI hope that helps just p.m. me because every deal is different

I self manage 21 LTR'S an one Vrbo.I train the tenants to pay the rent via one of multiple methods such as depositing into my business account, ACH, Zelle, PayPal or Venmo.

(B) Joint returns For purposes of this subsection, a husband and wife making a joint return for the taxable year shall be treated as 1 individual.

Are there any additional legal head aches?