I am going to adjust/add information (e.g. cut the numbers in half) to get my point across in this example.Property A, purchased Non Owner Occupied by an LLC with the intent to rent, has ARV of $75,000.

If you are cutting a circle of drywall out to install a light fixture or outlet or light switch, test the piece you are pulling out, as you have a good edge where all paint levels are exposed.

I'm sure I could come up with an adjusted rent that's reasonable if three tenants are indeed living there.Bigger concern is character and the deception/misleading application.

I have never had an insurance agent ask which kind I have so no insurance concerns.

You might spend $300 for a decent saw but think about how many jobs it can be used in, that saw is going to make you money, without it, you can't do the job.Documents from an attorney are much the same, you don't run to your attorney every time you need to cut the same type of deal, those documents can be copied and used over and over.

I am just a little concerned with quitting a full time secure job to go into a 100% commission based lifestyle.

the lender is concerned with continuance income here and in a traditional situation would require some type of lease agreement or proof of receipt of rental income.

So the renovation and trust factor im not worried about.Im more concerned with the real estate market in Merrillville, my 2 properties there are in good areas, the houses just need extensive rehab work.

Hopefully this is in the right forum but there is really no clear cut topic for the situation me & my business partner are in.In April of 2012 me & my best friend, who is also an RE agent, started our own buy & hold business with plans to do so to build a portfolio to live on when we retire.

If the tenant Is mom and pop there is not much security in the tenant as far as a lender is concerned.