That is a conventional and FHA guideline, VA allows 100% of your lease to offset up to all of your mortgage payment.

Unfortunately, with larger lenders, the draw process can sometimes be rigid and slow due to their strict guidelines.

(And then any state implications)Given this isn't pennies we're talking about- working with a qualified professional to help mitigate the tax would be your best bet. 

I have around $100K in liquid capital and access to a $50K HELOC at 6% for the next 10 months before it transitions to a variable rate.I have a unique situation where I earn a living through sports betting, which limits my ability to show traditional income growth.

I bet a lot of newbies would get some value if you posted them here.

I’ll bet extra that the new shiny object is AI-related.   

Those properties have very specific details, guidelines, and rules that are different than Indiana and I understand well how it works. 

There are limited exemptions such as if you inherited the property where it would be allowed.There are technical means to navigate the 90 day rule but your best bet by far is to talk to the lender and let them know the situation and ask for their direct guidance.  

Love that you’re thinking long-term and thinking about leveraging house hacking to speed things up—a great strategy for building wealth and replacing W-2 income.I would imagine that cash flow is tighter in Salt Lake City, but don’t let the 1% rule discourage you—it’s more of a guideline than a hard rule.

If only tax expertise is what you need, an EA or a CPA with a tax specialty is your best bet.