Just illustrating a point: assuming 30% down 7% int, 25yr amort. would be around 16.5% day 1 CoC.What do you mean a REIT wouldn't buy this? 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Florida is especially illustrative of this concept because FL LLCs, especially single-member/owner LLCs, provide very little outside asset protection.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

This latest report gives credence to the White House firing the head of the BLS, illustrating their data collection methods as flawed.

Great post and thank you for sharing something that illustrates the moving parts involved. 

But it just illustrates the fickleness of advice you hear all over, so I scan as far as possible.

I go on Fiverr and search for illustrated maps, for $20 you can get someone to create an amazingly beautiful map for you.

But yes, I believe if he has an unrecorded deed, it still transfers title with all the hair attached, legal and tax issues included.Ken, your post illustrates the adage that a little knowledge is a dangerous thing.Yes, an unrecorded deed does pass title — but only as to me the seller, and you, the buyer.

Icing on the cake, not the cake.To illustrate my position, you know who really should quit their job for tax benefits?