Describe how your company’s work is divided and/or the number of units each person manages.

Keep it in my name and divide the electrical cost by three each month and have them pay me? 

Where things get less clear for me is what the best exit plan is, do we sell right after the lots are divided and build able, or do I hire an architect /  GC and build myself, or would a builder want to partner with me for providing the lots free and clear.  

Lots that are sub dividable.  

When that grievous error is made, it means a mortgage underwriter is going to default to dividing six months of rental income by 12 months, and effectively only give credit for half of the actual rent - the mortgage underwriter is just reading what you wrote! 

The divider is on Decatur.For long term rentals, Vegas is better, as NLV handles the billing of water/garbage/sewer/recycling.

Still, they are all valued base don their ability to produce income.Cap(italization) Rate is NOI divided by the purchase price.

You would need to divide up the interest paid for the HELOC and apply the appropriate amount to the right Schedule E. 

However, the cash flow on 3 smaller homes bought right, say each cash flows 150 per month,  that would be a cash flow of 450 on the three, which might exceed the cash flow on one single family 200 K property.The other side of that coin, sort of to @David Krulac's point, is that your 200 K is divided into three units which is three times the hustle work for your money.  

If an investment property, there non-warrantable DSCR loan options.Some details:Loans available for purchase, rate and term refinance (no cash out) and cash-out refinanceCredits score down to 620LTV are up to 75% for purchase and 70% for cash out.Rate buydown feature available.DSCR (lower of gross rent lease or Form 1007/216 rent divided by PITIA) as low as 1.0x.For experienced investors (one year of investor experience and own home), short term rentals can be structured off of 12 month short term rental history with 20% expense factor.