To get into a 600K property with a 5% conventional loan, you'd need 30K plus closing costs, and you'd be making $4800 gross (including rent from the 1 unit that's owner occupied).

One thing I guess I didn't mention, for those of you who are concerned about me doing this myself...I worked for a collection agency for 3 years and, due to special collection laws in Colorado for consumer collections, certain employees could represent the firm in court.  

I'll also have one "managing" account still that I'll use occasionally for things like my employees and credit-card things... and I'll just reconcile as needed.  

Then you the expanded Beaumont System of Botsford/Oakwood/Grosse pointe less than 20 Minutes from Midtown.

it could in that scenario with that big of spread.. play it out.. see if it works.. just don't give them any money up front.. if they fund then you found a good one...I have spent 30 years loaning HM  as a company with 20 employees and a 35 million dollar book.. and as stated .. that's not how HM lenders operate GENERALLY.. but then again your in MI and things are different in that neck of the world.. 

My PM estimate a $500+ as a conservative number.Total will be $1000 gross and I would pay cash for the property.

The maximum special allowance is reduced if your modified adjusted gross income exceeds certain amounts.Phaseout rule.

This means you will not get a consensus on the topic.Large investors have legitimate need for a LLC due to the fact that they most likely have actual employees.

Debt to Income RatioA debt to income ratio, commonly referred to as DTI, is the ratio of the amount of monthly expenses you have relative to your gross (before tax) income.

My guess: no.Please note: if INVESTORS aren't generally interested in properties that don't generate at least 1% gross rent per month (fully rented out), then I reckon you shouldn't be either.