Keep us posted on how it goes.

We’re one of the few property managers that require W-2’s and a bank statement and we go way beyond the traditional, “income must = 3x rent” qualifier.Below is more information about what our Applications Department does to screen applicants and find the best tenants possible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of another applicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedApplicants are often slow about turning this information in, asking us why we need it and then taking several days to submit.

Additionally, if you have claimed or were eligible to claim depreciation for the rental portion, you’ll owe 25% depreciation recapture tax on that amount.

More annoying is the limited service motels in a resort area that add on a “resort fee” despite having no resort amenities.  

And you would pay long-term capital gains on the profit.If you did decide to rent out the property and sold later down the road, because you converted it to an investment property, you would be able to do a 1031 exchange and defer all of the tax and depreciation, to reinvest it into another property/properties.

its crazy to see this post pop up again on my notifications haha.

Smh I know when people search through filters I’ll probably lose half my audience based on not having w/d.   

Does anyone know of a lender that will give a HELOC on an investment property.  

They kept me on the platform.

@William Brock  We bought in Wimberley on an unrestricted 10 acres.