Once you pass the $50,000 in principal payments from financing you are then taxed at that.Personally unless the property cannot be financed by a bank, seller finance is not your best friend (especially in Pennsylvania where it can cost $10k to foreclose on someone and take over a year).

If that doesn't cover the principal balance plus all accrued interest, exit fees, yield maintenance, prepayment penalties, default interest, advances made for unpaid property taxes and insurance (even forced placed insurance), advances on senior loans, foreclosure costs/fees, toxic waste cleanup, costs of resale, the list goes on and on...the lender can sue each and every one of you for the entire unpaid amount.The way this would likely play out, should the lender elect to enforce the personal guarantee, is they would file suit naming each partner as a defendant. 

If renters have to bring their own stuff, they're less likely to bounce because they'd have to move all their own stuff.)Month-to-month-- Principal, interest, taxes and insurance (PITI). -- You'll keep back maybe 5% of all rents for routine maintenance and another 5% for capX (big expenses like roof or furnace replacement).  

started using mortgage calculator, understand amortization ; understand principal and IO payment, understand appreciation calculation.

The big issue here is that the legality of the receipt of out-of state referral fees is entirely permissable if you are licensed in Florida and your license is active with the DBPR and if the Principal is fully aware of the arrangement to pay you a fee this is the important part.

As a broker in the transaction, you’d want the principal party you represent to sign waivers acknowledging their understanding of the significant risks they’re undertaking.  

Typical credit card minimum repayment is 1% of principal + interest. 15% interest is daily rate of .041% assuming 31 days, 1.27% for the month.

I am paying both the 1st mortgage and Heloc payments using the rent money, then i am using my own money i recieve add 3 full loan/mortgage payments that go directly to principal and interest on the Heloc freeing up a huge chunk of it back up to buy house number 3.

Option 1 - buy a house and pay ~3+k per month (including taxes, insurance, cap ex)Option 2 - rent in good downtown area for $1,300 per monthI'd pick option 2 and save $20k guaranteed per year (versus principal paydown, nonguaranteed appreciation, and negative cash flow).

Do note that only the mortgage interest that you pay is deductible, not the principal payments, but you'd also be able to take depreciation and possibly other expenses on the property such as utilities or maintenance.