On your subsequent tax returns, you'll list the property as an income-producing asset, you'll take your depreciation, and you'll declare any income that you generate from the rents. 

Hey Luke If you're open to out-of-state investing and looking for an inexpensive market that produces strong cash flow, I recommend checking out Cleveland, OH. 

If you're open to out-of-state investing and looking for an inexpensive market that produces strong cash flow, I recommend checking out Cleveland, OH.

I did pay myself a salary last year and plan to do so again, but I won't be able to produce the standard, "...last two pay slips" type of documentation that normal conventional lenders want. 

The last thing you want is to buy something and the Agent's estimate on rent and/or reassesed taxes was wrong and you end up with a non income producing property. 

It's now produces about $450/mo in cash flow after all expenses, not including debt paydown.

It will not produce as many results with such a narrow target property, but it is another method to generate potential deals.

I have a particular case where all the investor has to do is pay 50k on a house that needs no work and is producing 5k per year return. 

I’m considering keeping it to do short term rental and producing some cash flow while paying off the rest of the loan.

Their first round effort has produced $42K in 0% funds to use over the next year and I am going to use those to accelerate my purchases and re-selling activity.