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Sch C >> 2 year less or average

Sch E >> Current Rent - Current HExp - 2 year ops (with exception of 627 S. Paca St)

• For 627 - Used 2020 rents of 2166/mo vs 3375/mo current

• For 627 - Used 1 year ops vs 2. 2 year ops are totally irrelevant as the massive cleaning and maintenance was for vac. rental ops

As of 4/11/2021

A dynamic link is not available at this time. This screen shot matches the data above. We added scenarios for the 2 yr ops in the calculator for all but 627 S. Paca St for reasons mentioned above.

We use a Qualifying Income Calculator for calculating and expressing the same information with more details. It is a Google Sheets File Template. It incorporates a small amount of spreadsheet based database logic and some check box functionality that most emulates javascript for rapid scenario simulation.

1. Primary Residence - This worksheet accommodates reporting of primary residence as a rental or owned real estate with aggregate or detailed cost component reporting.

2. Schedule E Reporting - This worksheet allows us to quickly setup "as is" scenarios and "pending" scenarios for primary residences and investment properties, and it gives some "tweeking" functionality on both .

3. Schedule C Reporting - It also allows us to manage the Schedule C Average methodology although most bankers use the Lessor or Average system.

4. w2 Reporting - It provides for an easy way to report w2 values and then override them with out over writing them, should that make sense.

5. Qualifying Income Summary - This provides a summary box for qualifying income values calculated in sections 2, 3, and 4

6. Housing Ratio / Debt Ratio - This provides a summary box for presenting Current and Proposed Ratios NOTE: Monthly debt is currently just manually populated in the box. Future versions will have separate worksheet for entering all those values and that total will be projected into the box.

Please see our "Qualifying Income and Ratios" web page for several scenarios that are relevant. The numbers may not align exactly with the worksheet above for several logical reasons but they should be generally close to each other with the ability to explain differences if necessary.

Dear LO -

Holly is a PhD Scientist and Bryan is self employed with 20-25 years experience with three schedule C's and 4 rentals. We have prepared our documentation in accordance with the guidelines found at www.borrowers-barnyard.com.

Please review our summary qualifying information below and the application documents provided. Unfortunately our file will require more special handling and/or exception documentation than is desirable, but we are good ad documentation and drafts of all docs to date can be found on the Borrower Docs menu.

Thanks for your support with our home financing process in advance. It's much appreciated.

Regards, H and B

Since 1) we have no other long term debt other than rental properties 2) we are putting more than 20% down and 3) we have cash reserves after putting our money down, we "just" need to show our gross monthly income is in excess of $7186/mo. ($3593/0.5)

So. The goal is to show that Holly and Bryan combined make at least
$7,186 in monthly income before taxes...