Almost all real estate agents are self employed and get paid 100% on commission.

Aside from the condition of the property and possible repairs, you also have to analyze the neighborhood from every angle such as crime rate, employment rate etc..

Hello Everyone,My partners and I have been discussing the pros/cons of a vacation rental in the Outer Banks area ( open to other areas) since there may be more potential to generate higher cash flows.  

She already records all her convo with PM and has sued her employer for some other ridiculous claim so she’s chomping at the bit to try and find an angle to catch someone.

@Jason BartonI am a mortgage broker in Texas and have access to several lenders whom do DSCR loans.In a nutshell:Income, Employment, and DTI aren't a factor.It's all about the property, your cash down, and credit worthiness.The DSCR calculation is generally NOI/PITIA = DSCRSome lenders will go as low as .75% DSCR but will want more money down. 1.00% is the standard, some drop rate is over 1.25%.

We would be looking at how much rental income the property will generate to offset the expenses as opposed to digging into your personal income and expenses to get you qualified.I say try the conventional route first as that will offer you better rates and if that does not work then go the DSCR route. 

BUT, since this is the first year there are likely losses passed to you as a result of accelerated depreciation and cost segregation strategies that the sponsor likely employed so there shouldn't be any tax liability.

Those tenants require chasing constantly for rent, generate higher maintenance calls, need more screening etc etc.

However, I am unsure as to how many mailers to send, how large the area and how to generate an accurate lead list. 

I'm looking to purchase rental properties but have been self-employed for the past year and have been told by 1 lender than there is a 2 year minimum.