Don't get taken advantage of with a developer, regular seller, or tenant with the lease on a NNN property.

You’re going to deduct the rental mortgage interest against your rental income and your personal mortgage interest (if allowed and more than standard deduction) against your regular income.

It's hard enough borrow at regular mortgage rates and generate cash flow. 

Enough so that my wife and I no longer need regular income to support my families life style via the 4% rule. 

Well, it has not been easy to get it rented (January / February), and they are texting us regularly asking how its coming, how can they help, it is becomming very annoying. 

@Asim Purses this question comes up pretty regularly in the forums.

I highly recommend finding a market that is landlord friendly, cash flowing, doesn't have regular catastrophic events, property taxes are low, insurance rates are under control and you like the area.

Below are key items I've seen in teaming agreements:Ownership Interest: Define each party's ownership percentage based on contributions like the down payment and ongoing costs.Financing Details: Clarify who pays for what—mortgage, closing costs, renovations, etc.Expenses: Outline how regular costs (taxes, insurance, upkeep) will be split.Management and Maintenance: Decide who handles repairs and improvements, including decision-making processes, funding, and responsibilities for performing or managing the work.Single Decision Point: Avoid deadlocks by assigning one person as the final decision maker.Dispute Resolution: Agree on a method (e.g., mediation or arbitration) to resolve conflicts.Life Changes: Plan for marriage, divorce, incapacity, or death.Exit Strategy: Define how a party can sell their share, including buyout terms and a method for determining the sale price.Rental and Use: Define the rules for renting out the property.

Hey @Stephanie Medina, this comes up fairly regularly and is really an individual situation.

In addition to a voucher, we require that the tenant be able to show income at least 1.5 time the monthly rent, as opposed to our regular tenants who must show 3.5 time monthly rent.