The home was a bank foreclosure from a reverse mortgage.

One of my biggest wins of the year came when I refinanced my mortgage.

The home was a bank foreclosure from a reverse mortgage.

Rental income and expenses, such as mortgage interest, property taxes, repairs, and depreciation, can be reported on Schedule E of your personal tax return, regardless of ownership structure. 

Refinancing will change your mortgage rate, and if it’s worse than your current rate, it’s not worth it unless you’re getting a great deal.

@Akash AgrawalYou can have single person on mortgageThe issue about deduction is who is actually paying the mortgage?

@Shwetha Pindikuri,Assuming an FHA loan with a second mortgage can be tricky, but it’s definitely doable with the right lender.

Quote from @Pete Tarin: How does one go about assuming someone's mortgage with a better interest rate when purchasing a property? 

Success:  Signing a deal with First WatchFailure: Bought a retail condo, not realizing the low ceilings were such a deal breaker for a lot of tenants.Pain: A lot of turnover this year, especially in light industrialAha moment:  Mortgage note investing needs to be a larger part of my portfolio2025 Goals: Less Investing and more pickleball!

Your tenants cover most or all of your mortgage.