hate to give this place up because it's a one of a kind property in a very desirable area and I'm thinking it could do well as a VRBO.In a nutshell, it's a 4 Bed, 3 Bath home on a little over 2 acres with:Indoor Pool and Spa with Retractable Roof.Separate but connected Diner / Malt Shop with Fridge, TV and Stereo.Huge Game Room off said Diner.The Game Room is actually a oversize 4 car garage, but it's fully finished, fully insulated, has it's own central heat and air and a full bathroom.Prior owner used this portion of the garages as a showroom for his car collection, we use it as a huge Gameroom.This gameroom has a 65" HD TV, Stereo system, Regulation Pool Table, Professional Quality Fooseball Table, Professional Quality Ping Pong Table and a low end Air Hockey table in it.House also has a 3 car attached garage and 4 more garage bays in addition to the 4 bay garage area we use as a gameroom.There is also a horse barn on the property, but we use that just for storage.Home is near major highways, major shopping, dining, entertainment etc. in the city of Lucas which is North of Dallas.I've seen VRBO homes in Allen that are in the mid to upper 100's per night that look like they are doing fine - I'm basing that on pulling up their calendar and seeing the days they have booked into the future.

At least a recording fee to record the lien portion of the loan (mortgage or deed of trust).

The other unit was rented out, and I've been depreciating the portion of the property that is r ented, as well as improvements I've been making so far.

The portion of those people are retail buyers.

I can't think of another solution to help him exit with market rates for his portion of the equity.

Guess what, that portion of equity they just told you to wipe out (to get to 80%) your profit is inside of that not on top of it.

Charge off's are not always 100%, or in other words a small portion of the debt can be charged off.

In the end we do a 70 / 30 profit split the larger portion me.

Windows - Needs all new windows (I wasn't quite sure how to count them, since some are side by side, some are smaller, and some are 3 panel...I counted 25 not including the middle portion of the 3 large pane windows) $6000Foundation - Looked okayLandscaping - Remove trees and shrubs, tear down and remove shed, bring in landscaping rocks, power-wash sidewalks and driveway, remove fence in front and back, put new fence in back, new mailbox, plant new shrubs/flowers for curb appeal. ($3000)Exterior - New exterior and screen doors ($1000) Change exterior light fixtures, new shutters ($400)Interior paint/carpentry - Remove all wood paneling and add/replace sheetrock where necessary.

Your max debt ratio is 45% for conventional with good credt, and your next one will be straight investment property (since you won't be living in it) and will require 20-30% down.They would count income from a part time job only after you've been in the job for a year, some even want two years.Once you have the two years of landlord experience, they'll count the rental income, and as long as your properties have positive Net Cash Flow (NOI minus P&I)--you shouldn't buy any that don't-- then new purchases will actually improve your ratio, as positive NCF goes into the income portion of the DTI ratio at that point.A local bank or credit union may cut you some slack and let you count rental income prior to having the two years of experience.