Software automates what you already know (hopefully) - for some folks they get in trouble because they assume the software "knows" and they don't bother to learn it.

But I assume those depreciation get's recapture in the taxes anyway when I sell those funds.

I am assuming I should only apply for one loan approval since pulling my credit score/history will lower my credit number. 

@Frank Alfano I am assuming when you say small multifamily then you are referring to up to 4 unit building.

If I assume this is a rental property, your income isn't over $150k, and you're not a real estate professional then the losses the rental property generates could offset other income up to a certain amount. 

I have seen this in Milwaukee too many times, the only way to make it work is VERY hands-on.If you end up renting it in March for IDK net $200 the property will have lost a LOT more in the next 12 months just in condition vs what it looks like now (assuming that it is freshly painted?

The 2005 loan shows it as a first lien so I assume they cleared the history somehow but they are unwilling to share the policy.

But there's also lots of people out there that are being dishonest and not following through on their promise to their students, which in the end just hurts the investors themselves and other investors that are considering coaching because they assume everyone is the same. 

Assuming it does happen, despite all the obstacles that I mentioned earlier, could you please clarify a few details for me?

HVAC is assumed, as is roof, so that doesn't push up your value much.