They pre qualified me based on my income including 75% of the projected rental income from my departing residence.

However, I got my statement saying how much my mortgage would be for the next 12 months including the shortage amount.

We estimated the total cost (including the land) to be around $300,000.

I have clients in this space and the permitting process is necessary, which includes a business license, following as well.

Not enough equity in subject property based on current value.According to the Realtor, ARV would be $315,000 - $335,000.Last time I looked my FICA score was in the excellent rangeMy DTI including the subject property is way less than the typical 45% requirement.Any help, advice, would be greatly appreciated.Christine

If you want to get different perspectives from other investors, lawyers, and CPAs just click the magnifying glass icon on the top right of your screen and search LLC, multiple LLCs, etc and go to the forum tab. 

Unfortunately, our contract did not include the repercussions if the job was not completed.I plan on contacting my CC company today.

This includes all the rest ranging from 2-8 units.

They will have higher acquisition costs, but also higher rents, and far more contractors and vendors to choose from, including property management. 

I am now thinking to include in my lease that the property has been professionally cleaning before the lease, so I recommend to have a professional clean the property before moving out.