Additionally, renting is a passive activity, so the losses are limited.Flipping is active income.

(In addition to the 90k equity left in the deal)Hope this helps!!

Lubbock has quite a few SFR with a detached back building than helps draw additional rent and adds doors.

A cool trick is to double-click a word in any post and add it to your keyword alerts without leaving the page.An unstoppable entrepreneur myself, I have been mentoring start-up entrepreneurs and business of various industries and niches for two decades now.

In addition, I spoke with my lender and I can qualify for an additional $225-$250K conventional loan for a “second home” because I didn’t borrow against my entire income to purchase my primary residence.

If you have a loan on the property, technically the bank can exercise their due on sale clause. 

I should also add that in addition to the 100k I have liquid, and the 55-60k I can get against my house, I can also qualify for 500k based on my income and expenses, and use the 100k liquid as the 20% down. 

I have given many references and even book options for case law and code statute and even said go ahead and email me and I will send you additional 40 +page summary just on the LLC with caselaw and codes etc from some of the best AP Attorneys in the nation.

Does the PITI include the additional 60k in reno?

Should I add this to the overall rent when I market the unit, or should this be a monthly fee that is billed in addition?