So I checked out the income for the previous 3 years, subtracted their 45% and then simply deducted my carrying costs from the remainder and it was a number I was happy with.

You'll have to actually qualify for the remaining part based on other income.Once upon a time, lenders used a front end ratio (PITI payment divided by gross income) and back end ratio (PITI plus all other debt payments) to determine if they would give you a loan. 28% and 38% were the upper bounds.

I don't think it's possible to say which one works better because there are simply too many variables.

I currently live in Costa Rica and would like to speak with anyone who wants to simply talk about this beautiful country!

Most of it was thrown out, or simply paid no mind.

In my opinion, the operating agreement needs to outline the investment specifics best as possible and cover as many 'bases' as possible.The agreement should hit these points:• the members' percentage interests in the LLC• the members' rights and responsibilities• the members' voting powers• how profits and losses will be allocated• how the LLC will be managed• rules for holding meetings and taking votes, and• buyout, or buy-sell, provisions, which determine what happens when a member wants to sell his or her interest, dies, or becomes disabled.You never know, keeping it simply may help attract more investors than you think.

Most of these 'deals' are simply people or realtors just hoping that their lender will approve your offer.

My question(s): Should I simply allow the seller to market/show the home to my buyer and never be there?

I simply have an OPTION to buy the property.

You could accomplish your goal faster by simply borrowing the money for the rentals.