I don't calculate DSCR and have never had a bank say ANYTHING to me about it (although I'm sure that they calculate it).

Loan/pro forma looked like this - purchse price on prop 135,000.0025% equity + closing costs (in money) +/- 35,000repairs loan = 55,000 (vandals got the pipes and it needed a few things)repairs costs = +/- 25,000 (balance to me as pay for management and painting and other little stuff)current monthly payment is about $750 per mo interest only until the 2 mortgages roll into one in Oct '09.

It looked to me like an easy $10K-$15K per unit owner.

Sounds like a deal to me too, Mark.

The loan for the property is a seller carry-back made solely to the LLC (not personally to me).I have a buyer that wants to 'buy' the house.

Sounds like an underwriter’s wet dream to me, especially in this market.

$3,261 + prepaids seems high to me.

That never even occurred to me.

I agree that If I am holding property indefinitely, the recapture tax is of no concern to me (who knows if or when I sell), and the same amount of depreciation will get deducted over time regardless of which method is used.

They asked the waitress who payed and she pointed to me.