If you start getting in to 3+ units, FHA loans will require that the building be self-sustaining, and the determination of the income will not necessarily be based on current rental income, but instead what an FHA appraiser determines the rents should be for the units.

@Nate M. as much as ethically possible as determined by the market. :-)Seriously.

Keep in mind that listing brokers will also use aggressive variables to determine NOI (insanely low management fees...or they will leave that variable out all together, low vacancy rates, etc) if you are looking at comp listings.

I own four residential properties in the Washington, D.C. area (Arlington, Virginia, to be exact), three condos and one town home, and am looking for ways to invest even further.My problem is that, given my salary, I really can't qualify for another residential mortgage; and, even if I could, I'm not eager to tie up my money in another long-term buy-and-hold property with relatively modest and slow returns.By the same token, though, I'm also determined not to sell any of my existing four properties, which are excellent long-term investments.

Unless they write into the provision of the loan they have some control (and if they want to do that, turn around and run), you can do whatever you want.Depending on if and how much you rent it, determines a whole bunch of tax situations and you should consult your CPA on that.

I just got a closing costs quote from TD bank: ~5200Origination 840Appraisal 525Credit Report 9Customer Authentication Report .85 (85 cents)Flood Determination 5Tax Service Fee 58Title Services and Lender Title Insurance 1470Owner Title Insurance 650Government Recording Charges 715Transfer Taxes 600Initial Escrow 240Daily Int Charges 90Homeowner's Ins 75I'm not sure how much less these numbers differ in Michigan.

Using the 50% rule, I thought I'd be able to make this property cash flow but after diving into the numbers a little more closely I have determined that this probably won't be the case.

Personally I am also looking for ideas or just links to posts about determining whether selling or continuing to rent is the smarter choice for the unit.Thanks so much.

Step 2: Make sure loan is actually assumable and get payoff to determine price of home.

Provided that the issuer of securities does not otherwise have knowledge that such person is not an accredited investor, the issuer will be deemed to have taken reasonable steps if:with respect to purchasers who are accredited investors based on income, the issuer reviews IRS forms that report revenue (W-2, Form 1099, Schedule K-1 or filed Form 1040) for the last two years and obtains a written representation from such person that he or she has a reasonable expectation of reaching the income level in the current year;with respect to purchasers who are accredited investors based on net worth, the issuer reviews bank statements, brokerage statements, other statements of securities holdings, certificates of deposit and/or tax assessments and appraisal reports issued by third parties in order to verify assets, a consumer report from at least one of the nationwide consumer reporting agencies to verify liabilities and obtains a written representation that all liabilities necessary to make a net worth determination have been disclosed (all information reviewed may not be more than 3 months old);the issuer has obtained a written confirmation from a broker-dealer, a registered investment advisor, a licensed attorney or a CPA that such person has taken reasonable steps to verify that the purchaser is an accredited investor within the prior 3 months and determined that such purchaser is an accredited investor, andfor purchasers who previously purchased securities in an issuer’s Rule 506(b) transaction prior to the effectiveness of Rule 506(c), a certification that such person is an accredited investor.A simple Google search has a bunch of third party verification services.