No tax returns are required nor do your personal income or debts play a factor in approval.

ie. is the income generated by the property enough to cover all its expenses. ie. taxes, insurance, utilties, and any debt servicing.2. understanding the general area where the building is located is important. you want to be buying in an area you think is stabilize and on the rise.

No debt.

Cash flow is dependent on your Debt service.

Is the silent partner in an equity or debt position? 

Depending on your credit and debt situation, 4.5% right now is not a particularly good rate for an owner occupied property.

Also, you will have to file 990-T every year that you are collecting rent on the portion of rent after expenses attributed to the debt...look up UDFI but you need a tax guy for that as there is a formula.

It’s a bit of an interesting story has to how I wound up here, but where I am now is this:I just took possession of a property via deed in lieu of foreclosure, but it has a squatter in it.

I would offer 87% of that price and out of that pay all debts and liens to get a clear title on the home.

really as simple as that.now there are credit card schemes some will charge you money for .. that get you to all at once grab a bunch of credit cards that have teaser rates of 0 interest with the idea that you can flip before the first payment comes due... but getting a bunch of credit then maxing out the cards will crater your score.. so be careful there and if you have an issue with what you used the funds for you now have a bunch of consumer debt at high interest that could bury you.. so be careful.. there are no Zero % loans and for most starting out its even hard to get a HML.. which will be 16 to 14 Apr with at least 20% down plus points and fees