There are other common pitfalls when it comes to hourly workers, where last years income was high however the average amount of hours worked over the last two years does not equal the amount of money they made last year.

To fund them as promised would require raising taxes by (on average) at LEAST an additional trillion (with a T) dollars each and every year for the next 50 years.

Geographical Location: Japan (the most honest, reliable and enjoyable business environment on the planet, in my opinion - tenants stay for 4-5 years on average, with 15 and 19 year tenants not uncommon - NEVER intentionally trash or damage a property - honest realtors, sellers and insurance folk, etc etc)3.

My family owns a pretty substantial HVAC company, without seeing what needs to be done for each unit and what needs to be brought up to code on average youre going to pay 3-4k per unit, dont bite on the low ball quotes you will pay for it later on (trust me).

They will average your Net Income over the past 2 or 3 years and that would be how they determine your ratios (Debt to Income).

----------------------------------------------------------------------Property type - 2 duplexesFannie Mae REOPurchase price $369,000 (includes $40k renovation)Financing - FHA 203(k)Down payment - $8559Out of pocket renovation - $20,000Rebate - $1500Final out of pocket - $27059Here's the monthly cash flow -Duplex 1PITI - $1467.50Unit A rent - $1100 (below market - this is a family member)Unit B rent - $125015% vacancy/maintenance reserve - $352.50Net income - $530Duplex 2PITI - $1467.50Unit C - owner occupiedUnit D - 20% personal use, 80% vacation rental - $1500 (average)15% vacancy/maintenance reserve - $225Additional VR expense - $450Monthly loss - $642 <--- Not quite living for free, but not bad...and my in-laws have their own apartment when they visit!

More often than not, it is smaller in size and looks more like a residential loan, from a loan amount perspective than not.

There are restrictions, and very few exceptions, that you must meet to have 2 FHA loans (relocation, increase in family size, etc) AND you either have to put down 20% on the second one, or have 20% equity in the first one.

House size, condition, what repairs are needed?

If your target was a 10 cap but the inspector said a new roof was needed now for 8,000 you would go 86,940 purchase - immediate capex (8,000) = 78,940 offer priceMost investors shoot for about 100 minimum a door clear after anticipated costs and debt service per month.Remember the costs average out to 50% but some years you will use more and some less but it will average over time close to this.Big ticket items you need to build a cost reserve stable of when those items will reach past the life expectancy and plan accordingly.If you look at the BP file vault on here there is some free stuff and I believe a cost reserve stable in excel example is on here somewhere.