Just think if the NAR had the same contest...now that's almost corporate underwriting!

My bigger concern is "breaking the corporate veil," but I don't think this detail alone would do that (though it's probably worth verifying with my attorney).If anyone has more info, would love to hear it!

This backs out assumed expenses for prop mgmt and maint/repairs even if you do this work yourself.If you don't adhere to this, the rental income won't count, and the PITI of the property (and potentially operating expenses as well) will be added to your obligations (numerator) in the debt ratio, which is very punitive.

If your'e flipping you should probably be doing it out of a Corporation, not an LLC.

Remember hoas are corporations, so a knowledgable corporate attorney may be what you need.

After the 14 days you can file for eviction and no longer under any obligation to accept their late payment unless you want to.

Doing this makes it clear to the world (and especially credit rating agencies) that the person who lost the case (the judgment debtor) has met the obligation."

Underwriters do not get tax and corporate law classes and often learn it while on the job and the same goes for anyone really.   

I decided to get back at corporate world soon afterwards.

What makes my situation a little ambiguous is that I am about smack in the middle ..Im in my mid 40s, I earn a considerable income at my corporate job but took me a bit to get here.