Doesn’t make sense that an investor with more than 4 properties is capped out with favorable rates and terms.

The land becomes more difficult to get cash out on, probably closer to 50% of value (if there is even an appetite for the loan).

This would be about a 5.7% CAP when renting out for $1,500.https://matt.rmxequity.com/homes/832-W-Lennox-St-S...

Instead of being valued compared to comps you be valued on NOI/CaP rate for the area.

We are finding it difficult to cash flow a property with less than 50% down.

These questions should serve as a starting place to project more realistic rent growth projections, exit cap rates, and inform availability/relative tightness in credit on the refinance and the sale (AKA where most of the money is made). 

Other expenses include vacancy, maintenance, cap expense, and miscellaneous expenses.Turnkey OOS that actually provides $300 to $400 monthly cash flow after all expenses is not an easy find. 

The easy and preferred answer is to tell the truth.The more difficult answer comes from figuring out if you lose more by telling the truth or by lying.

@Don NelsonYes, many banks will cap you at 4 properties so it's a good idea to pull the HELOC on one of the first few if you plan on using it multiple times to acquire new property. 

As such, you need to allocate payments property between personal expenses and business expenses depending on if they were directly or indirectly related to the rental unit.It will be difficult for anyone to estimate what your tax filing fee will be as no one knows your complete tax profile based on the information provided.