Hello BP my name is Gian Chaves and have been listening to the BP podcasts for about 6 months now and have learned a lot.

Currently both full-time employed but who knows..Does anyone have any clever strategies to a) mitigate our risk in the short term (avoid paying a mortgage with less or no rental income), b) figure out whether now is the time to get a mortgage or c) have any general advice about timing etc.?

We had someone else who really wanted to rent the property because of the history of the property (It was built by Caesar Chaves for his workers), and because it had a guest house in the back where the unwanted tenants where, move into a camper onto the property in order to makes sure they didn’t damage it more and in order to keep out other people from breaking into the main house while we were rehabbing it.We had a judges signature for the eviction but could net do it because the constable wouldn’t call us and deliver the notice.

I've seen this relaxed to 2.5X depending on location and the price of your unit. if rent is 4k a month then 2.5% is 10k a month gross that gives them 6k a month before tax to live on.. if rent is 700 a month I think it needs to go the other way  4X  that gives them 2100 a month to live on as opposed to 3X were they are living on maybe 1k a month that's a pretty precarious situation for many one flat tire and rent gets missed :)  I am not saying you are wrong in the intent to make sure there is enough living money, but in practice I have found that my cheaper units (class C) have the tenants paying a higher percentage of their income to rent and they simply live on not much money.My B class properties can get tenants easily at 3X the monthly rent (start at ~$2.5K (3 BR) and go up to ~$4K (3 BR)). 

Funds come in direct deposit in to bank account A (1099) X Percent stays in account AY Percent goes to account BZ Percent goes to account CB and C have the option of being Checking or Savings.MUST Be percentages NOT dollar amounts.

Funds come in direct deposit in to bank account A X Percent stays in A Y Percent goes to B Z Percent goes to C B and C have the option of being Checking or Savings.

@Justin C.

As @Steven Ellington and @Elizabeth C. 

@Leigh C having another person build my empire for me is un acceptable in my standards.

@Amanda C.