You have to decide if you want to be an amateur or a professional.

My name is Heidi Foster, and I am a real estate professional in lovely Chattanooga, TN!

Does anyone have advice regarding how to compile a professional, efficient financial packet to present to banks and lenders?

If you're a "real estate professional" (you must meet certain requirements to qualify as a RE pro), your rental losses are not considered passive and can be deducted in full against nonpassive income.

I currently assist clients who provide business professionals and corporate employees with short-term rental accommodations via the rental arbitrage model.

I currently assist clients who provide business professionals and corporate employees with short-term rental accommodations via the rental arbitrage model.

This fine balance of tax reduction working cooperatively with your tax professional and being bankable is what I do on a daily basis with investors.Best of luck.

With the university and Little Italy it provides a strong demand from students, residents, and say young professional looking to have a close commute to the loop.

Leveraging your expertise, I'd like to understand how you approach the situation I'm about to describe.Long Term Goal: Build RE portfolios using a buy-and-hold strategy by building up 40 units in the next 6 years.Situation: Small family owns their first single-family home which was purchased 2 years ago.Purchase Price: $320,000 (FHA, minimum down)Oustanding Balance: $300,000Appraised Value: $370,000 Mortgage: $1,950Est Rental: $2,300 (no expenses considered)Considerations:The basement may have been finished without permits, professional plumber, or electricianThe yard is large and potentially hard to maintainAn additional $2,000 is needed to prepare for rental or $10,000 in renovations before selling Therefore: What would you do as a starting investor in order to reach the goal stated?

The mining and logging industry ranked first in job creation followed by construction; professional and business services; leisure and hospitality; and transportation, warehousing, and utilities.All Texas metro areas except Corpus Christi and Victoria had more jobs.