It is an important thing to ask the originator you use. in general though, a DSCR loan will take into account your personal credit score and the rental income of the property covering the expenses.

As accountants we want to help people scale up via tax advisory so we can turn a small loyal client into a big loyal client.

However, with strategic planning and assistance from experienced real estate accounting professionals, it may still be achievable for part-time investors.Primary Occupation: REPS is primarily tailored for individuals whose primary occupation revolves around real estate management and investment.

New to accounting for FLIPS. 

That's rare.You could probably do a 2nd for the $10,000.Talk to your title company or title attorney and have them draw up the deed of trust and loan terms for the 2nd. 

I suppose I can take the money out and put into a bank account and then submit it, but that would be a lot more work4.

The house has survived many hurricanes with little damage, but the insurance company said they would not renew coverage without a windstorm exclusion. 

Hi Salvatore,If you don't transfer the title and the mortgage to the LLC and do all the paperwork to show your LLC instead of your name, then you are still liable for any issue that happens to your tenant if they want to sue you.Mortgage companies in general allow to transfer to an LLC after one or two years.As Bill's mentioned, don't commingle funds is key as well, as soon as an LLC is open you have to open an LLC business account and everything towards the LLC goes there.

Well his boss was impressed with my real estate and finance skills so I ended up working for their company well it turned out their company was wholesaling houses they didn’t really flip many homes.

I know how important a real estate specific accountant is especially as I start out, but after a couple years of working with a professional and if no significant changes have taken place and I only have 1 investment property, could I not do the taxes myself?