Also, a lease option allows a more marginal deal to become a better deal by optioning it.

Occupy a unit for one year and then move out, my parents are very generous and allow me to keep my room at their house.

But went about it this way because I am closing on other properties in my own name right now so we used just the father's financials to qualify for this particular one, and the mortgage market does not allow lending directly to an LLC anymore.Simply put, our goal for tax reporting is to divide all rental income for this one property equally in to thirds, and to do the same for all expenses (mortgage interest, taxes, insurance, repairs, etc.).

That will allow you to build up a network of contractors and suppliers that will enable to to address problems faster and more cost effectively.I would also recommend buying a home warranty program if you are planning to hold the property and make upgrades over time. 

Now depending on the bank, some may allow the loan to be personally backed.  

@Orion Deaton, It's a powerful tool that allows you to sell investment real estate and subsequently buy investment real estate without having to pay the normal tax on the gain from the sale.  

That said, increasing your NOI does help you because sometimes metrics, like DTI and DCR, can dictate allowable LTV 3.

Put another Agent in my place then allow me to bid?

This allowed us to put our money to use and earn a bit of return and it allowed him to stay in his place.

I am now in a w2 job because i now understand the power that the w2 provides for doing the BRRRR strategy since ive done that in the past. one of my partners is a contractor and a great one at that so weve been biding on homes we like on HUBZU and with the cost we save on renovation it really allows us to bid a bit higher then the others. unfortunately we have not won one of the properties but were going to increase the amount of bids we place within in our criteria.