So my question is:Given am new in U.S would I be able to get a loan with only last year Tax statement and my pay-stubs.

DORA has defined as acceptable “full disclosure” to be a one line statement on home closing documents or a one liner buried in an HOA contract.

Bob, I think your trying to help but you are making inaccurate statements w/out ever going through a partition action before. 

I understand that banks usually ask for copies of bank statements so would this loan have to be considered a "gift?"

first step is talk to a FHA lender and get Completely preapproved...submit bank statements, actual tax returns, etc. ( not just W-2's).  

I am trying to import my 2 rental properties into QB and I am stuck at the HUD-1 Statement for one of the condo's.

From a tax perspective, downloading the scans of cancelled checks (which have a memo line that comes in very hand for recording the purpose of the expense) is easier than going through your LLC credit card statement each month and taking separate notes for each expense.You could use a CREDIT card providing you pay the balance in full each month, so as to never incur interest charges, but that exposes you to an unnecessary risk (or mistake if you forget to make a payment and thus accrue interest charges) that is easily obviated by using a DEBIT card instead.  

Sylvia, this is your statement that I responded to, "But please, can you all stop telling us that you don't pay your mortgage, your tenant does?

I could go on and on, such as having annual property inspections with photos and reports, electronic payouts, electronic accounting statements, etc.

I plan to ask for Comps and P & L statement, but if anyone has a process for evaluation they would share I would be very grateful.