I've had a friend say he prefers email correspondence for his business as it puts everything "in writing".Do any of you correspond with your tenants via phone text, and would such correspondence serve the same purpose...ie, putting things "in writing"?

Isn't The purpose of brrrr strategy is to get the first property paid off and repeat to the 2nd property?

This defeats the purpose of the LLC and reverts the liability back to the natural personBefore you do your first deal, I would make sure that you have a solid understanding of how the wholesale process works, i.e. offer, acceptance, contract forms, assignments, double closing, etc.

This this option special purpose LLC is established to be used as investment vehicle for the IRA.

I am curious how rental income is calculated in the eyes of the lender and how that plays into the DTI.For example, I know a rental with positive cash flow can report as a loss for tax purposes due to depreciation.

You can write off your losses for tax purposes.

Do you get to take all the deductions and depreciation from the rental income before it gets added in against your W-2 income for tax purposes?

One of the pieces that may need ton there if you dont have an entity is how the money will be reported for tax purposes.....

If you have a hardwood floor it could be the floor itself or the subfloor and hardwood floor rubbing against each other due to a breakdown or missing underlayment.If you have a sleeper flooring system you will have 2x2-4 sandwiched between two layers of subflooring and should be running 12" on center.If you do decide to do the drywall method here is a link to resilient channel http://www.soundproofingcompany.com/soundproofing1...If you do decide to use this make sure that when you hang the drywall that the screws are not too long so that they don't go beyond the channel into the joist or other wise you will defeat your purpose. also when installing the channel you should install it perpendicular to the joist and don't forget to box around any fixture with the channeling so you can properly attach the drywall to it.

The whole purpose of my post was to wake people up to the falsehoods still being thrown around that you should save your money in a 401(k) before you should start investing in real estate.