Entity formation should run you around $500 plus any State fees (not including rush services).

What is the debt service on it now??

And don't forget that the gas company will have a service fee that shows up on the bill even if no gas is consumed.

This wasn't hard to find - these docs are public records & available on the web.

I'm trying to figure out how to assess debt service costs when using a cash-out refinance to purchase a new investment property.I own one investment property and am looking to use the equity in that property to purchase a second property.

Personally I would only hire someone who came highly recommended from a family member, friend or colleague who used and was satisfied with their services.

I would start by doing a search here on BP and on the web for how to do comp analysis or appraisals.

Qualifying replacement property must be similar or related in service or use to the condemned property.Replacement PeriodFor any part of the gain to be postponed, qualifying replacement property must be acquired within a specified replacement period.

That means you have a total of $500 to cover any debt service, or the amount you agree to pay the seller every month, and money for groceries if you don't have a job and want to eat.I might make an offer with my monthly payment being somewhere around $350 per month giving me $150 profit and that would also be the return on any down payment you give.

They will look at your actual net income (usually without the depreciation) and compare this to the proposed debt service payment (the P&I part, taxes and insurance are already taken out at this point.)