Any info would be great I have been told that the max household income with new rentals is 105k however I see online that it is 193k.

Usually for these kind of deals your cash reserves will be looked at as well as proof of income enough to make monthly interest only payments.

It allows us to pocket a pile of tax free cash from the sale of our primary.

Hello Guyz.I am outside of the US (In India) and have been interested in investing for rental income.

If you have 1 vacant unit, you still have incoming rent from the other.

We now had our first income property!

Prior to jumping ship you should look into what you paid for your California properties, what they are worth today and calculate your monthly income from appreciation.

A lot of people in this area are commuters, which means their income isn't tied to the fate of the coal industry.

What are your plans on cash, are you pouring them back into the business, planning to sit on a pile of cash just in case, or are you siphoning money out of the business hoping to draw income that just can't be supported at the moment. 

I would then get an EIN and a bank account and transfer the funds in order to close on the property and then use as an operating account for the income and expenses so everything can be tracked.I have done deals in a similar fashion as a partnership.