I do "Subject To" to buy and "Rent to Own" and Land Contracts and Wraps.

However, the rental income from your multiplexes is not subject to self-employment tax anyway.  

The 100 mile rule that Chris mentions is true also so you'd need to meet both in order to use rental income to qualify however, if you have "enough," income to qualify for both homes with out "rental income," then you can avoid these pesky guidelines.Below are reminders of several sections of FHA Handbook 4000.1 that apply to the “FHA 100 mile rule” Departure Residence Rental Income: Using rental income from a property being vacated by the borrower: If rental Income is being derived from the Property being vacated by the Borrower, the Borrower must be relocating to an area more than 100 miles from the Borrower’s current Principal Residence.Multiple FHA loans: A Borrower may be eligible to obtain another FHA-insured Mortgage without being required to sell an existing Property covered by an FHA– insured Mortgage if the Borrower is: Relocating or has relocated for an employment-related reason; andEstablishing or has established a new Principal Residence in an area more than 100 miles from the Borrower’s current Principal Residence.Military Personnel / Occupancy: The Lender must obtain a copy of the Borrower’s military orders evidencing the Borrower’s Active Duty status and that the duty station is more than 100 miles from the subject property.

Pretty standard apartment inside and out.Rent in the area according to rentometer for single beds is $640 so it's on the low side and with the old original appliances and cabinets and stuff, has upside potential.I was thinking of offering 380k to start and subject to financing, with inspection contingency, request a schedule e (he showed us numbers from his accounting software already but to be safe of course,) and estoppel certifs.Income 52kExp 14kNOI 58k~Rents- 525-575My broker said he'd go 390k max but he said he thinks it would be a good buy to hold for cashflow and rehab units for higher rent. 

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If they leave and the RV is still there follow state law, you need to notify them in writing the vehicle is subject to tow, you post the window of vehicle with sign saying it will be towed take a photo..

@Mallory Thompson In general, commercial loans have no DTI requirements, no limit on the # of financed properties that you own, and generally take a very subject property based approach to underwriting. 

Ask if there are any any additional fees for maintenance, advertising, evictions, etc... and make sure they are outlined in the agreement.

The subject property at list price is 52, based on market rent, and 57 based on contracted rent. 

You can add lease term that your tenantsthis is a non smoking rental and your tenants are fully responsiblefor all these violation fines and subject to eviction andcancellation of your lease with a 3 days notice (check with yourlocal city with how many days notice).