Hi Pafoua-I have dozens of options for DSCR loans with 620 credit that only go off the rental income, with consideration for your equity and credit score.

When dealing with tenants and especially low income tenants here are a few thoughts based on 20 years experience and a few evictions:1.

@Jake CyeedA Solo 401(k) such as @Joe Homs has is a different form of retirement plan, designed for people who are self-employed and have no full-time employees in any business they control.   

The long term goal is passive income, but we are willing to wait 10-20 years to get there.

The rate is fine, but with your credit and income you shouldn't have to pay any points.

You really don’t want to sell in under a month or you’re facing regular income tax plus self-employment tax instead of capital gains tax or zero tax if you move in. 

Purchase price: $3,600,000 Cash invested: $1,900,000 A gorgeous 15,000 square foot property right across from the beach in beautiful Victoria BC, Canada.This one is our retirement home.

I have a good amount of $ saved up, but since I no longer have active income, I need to create that to get started on my Journey.

I'm assuming it was too high, but I didn't see the sense in coming down as I knew I would be going down to MB to make some improvements, so a small rent wouldn't have been worth it to miss out on improvements for the upcoming high season-this coming September I will be ready to advertise for MTR and confident that the place will look Up to snuff!

if you have 239k in equity and sell the NJ home, you could use that money to buy a few homes near you and increase your monthly rental income.