For normal tenants, I usually ask for their income proof and credit report etc.  

Over the years, I’ve noticed something interesting working with investors:The biggest tax mistakes usually don’t come from shady strategies or bad CPAs…They come from poor recordkeeping and timing.Here’s what I mean A lot of investors don’t track which expenses are repairs (deduct now) and which are improvements (depreciate later).They toss all the receipts into a box or an app and hope it sorts itself out in March.Then when tax season hits, they realize half of those costs could’ve been handled differently — maybe deducted sooner or even structured better if they’d planned a few months ahead.The IRS doesn’t just care what you spent… it cares how you report it.

I usually do three sets--best case, worst case and most likely case. 

Happy to share some insights on how those structures usually work and what to look out for if you’re considering going that route.

Setting up an LLC is more about privacy and liability protection than saving on taxes.For your first deal, it’s usually fine to buy in your own name, especially if you’re using a traditional mortgage.

Value add deals are always quick to go, and anything sitting is usually just overpriced.

Great question, Jeanette this is where a lot of new investors get tripped up with the BRRRR method.When you refinance and take cash out, your loan balance increases, which usually means your monthly mortgage payment goes up.

The way these lenders work usually is that there is a Loan Officer out front who on boards you and they are your "rep" for the loan, then that loan officer has a processor who will gather what is needed from you to complete the loan file for the Underwriting team which is a totally separate department and then they do their thing and then when it comes out the loan is voted on by the committee who has final say for approval. 

As easy as this sounds, it's not simple and usually like pulling teeth.

Otherwise you usually have 30-60 days to move in after purchase.