Should I take the tax deductions or claim the income?

[Dave Mosher]

I am closing on my first SFR on December 20th. Financing has gone great with no problems. I went through a local bank, who offers portfolio products. I was talking yesterday about what I would need in order to purchase again in the future. I own 2 businesses, one of which is a small farm that I took a $10k loss on last year. I figured this was good because of the tax sabings. Now because of this loss it is hurting my ability to get future loans because of the debt to income. I currently own my home with about $50k in equity, plus 8 acres of raw farmland with $30k in equity. So this SFR is my 3rd mortgage. I can't take a HELOC on the land because it is land. Should I show a profit on the farm, pay the taxes and be able to qualify for more loans or go with a HML? Thanks for the advice,