They almost make it sound like it has to be this way for legal purposes with the county / state that records the transfer of the deed, when in fact they really are doing it because it is a requirement of whoever is the underwriter for the title insurance policy.  

So I let them stay, collected some rent, and then got them out when I was ready to start the remodel.If you are buying a deal solely for the purpose of holding it as a rental, it would not be wise to buy something that loses $400 per month.

E, you could use that income to qualify for a primary- some loan programs will let you use the rental income from the secondary unit from the duplex as well for qualifying purposes (sounds like you have Landlording history)* Capital gains income - need a 2 year history, but this works so long as you have additional assets to sell * Asset depletion - if you have a chunk of cash, retirement assets, stocks/bonds, even real estate with equity can be used here.* i believvvvvveee you can use income from a promissory note as well, guidelines applyAn experienced mortgage professional could look at your situation and hopefully guide you into how to make it work!

I'm looking to connect with people who are interested in multifamily 15- 30 units to create a mastermind networks.The purpose of the group is to connect with like-minded individuals who live are interested to invest in Canada to discuss and help each others.Let's Connect!

I am also open to anyone sharing an agreement they currently have for the same purpose!

Even if the MTR strategy doesn't work for us, these houses still do well as LTRs, so we do have a plan B.If this works out, we'd like to continue purchasing properties utilizing business lines of credit for either the down payment or the entire purchase (more likely the entire purchase as the low price points make these properties difficult to finance with 15-25% down); I'm a traditional lender whose 100% commissioned without 2 years of said income on my taxes, so I'm ironically ineligible for traditional financing.

Looking to build a super unique experience/property, which is purpose-built for STRs.

To qualify for a 1031 exchange, you must prove that your intent is to primarily resell the investment property and you will hold the replacement property for use in trade, business, or for investment purposes.

There's also some case law where a valid public purpose had to be shown for prohibiting certain types of rental activity. 

I drive a TON for my W-2 job currently, so no lease.The purpose of this thread was to find out if there are any benefits buying the car under the LLC OVER under my own name given my situation.