I was approved for a loan on a 5 unit building but For me being new to commercial I figured going bigger with guidance was a better option.

I use the rent estimator to find average rents.In Spokane, where I'm analyzing, the average "good deal" is around 1-2% when I put down 20% with a conventional loan.

A HELOC is a short term loan that needs to be paid back and is typically interest only.

Are mortgage points paid on a rental property deductible the year the property was purchased, or do they have to be depreciated over the life of the loan?

My loan feel through because I didn't have enough time in the army to use the VA loan and I was counting on it the whole time so since that feel through I hade to go the FHA rout witch increased my interest rate 1.3 percent and on top of that I now have to pay PMI and if I had been planning more than one loan in the begging I would have been prepared Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Trying to secure lending for an off-market property and learning the struggles of finding hard money loans that go below 50K.

I am in the stages of purchasing a property with a traditional loan, then transferring ownership to an LLC to protect my personal assets.  

Hi @Felix Lilly,Your approach to buying your first property in the Vancouver WA area is a great start, especially with your interest in an FHA loan for its lower down payment requirement.

You are going to cost yourself so much money, and time (time = more money).......I'd strongly suggest that you get over your aversion to loans and take one on for a small, medium distressed flip and get a good GC to help you put lipstick on it, then sell it for a little bit of profit.Now you will have some experience and a much larger comfort level with the whole deal. 

I am looking to connect with loan officers and realtors.