I am a 16 year old planning to form an LLC under my parents name in order to qualify for business credit to cover the down payment on my first investment property I will also pair the business credit I am able to qualify for with cash and refinance to pay off the down payment when the interest starts to kick in but I am wondering if when applying for a FHA loan on an investment property if they require income to qualify or if they will accept it because I will be renting and covering the mortgage with the rent and how that all works when qualifying and if this is even possible. 

This type of financing is popular with investors because it doesn't require any income verification.

Once income and expenses are categorized, there's a lot of reports you can generate like the cash flow statement for each property. 

@Michael BaumIn addition, you need to have reserves for the mortgage and unforseen repairs.6 months of mortgage payments would be good to carry you and fund emergency repairs.

I'm looking to get a loan for my first non-owner occupied rental property but my current lender is telling me my debt to income ratio is too high due to my student loans and mortgage.

It costs the tenant an extra % to pay with credit card but it’s no additional cost to the landlord.

Knowing what you are needed an income property to do inside your portfolio will help you narrow down what initial steps make the most sense for you. 3) New construction can have rate buy downs paid for by the builder and new construction comes with a lower repair and cap ex cost the first 10 years (usually). $450k is a big number when only $2500 in rent is coming in the door.

If you have trouble showing income and the property is non owner occupied, you may qualify based on DSCR 

I would use the rental income to hire a maid service to do weekly cleaning for me. 

Our idea is to convert part of the home to a Jr Adu and get rental income that will offset the expenses for dear dad and let dad live rent free.