However, you can get loans that are based on the performance of the rental and not your personal income and debt.

As already mentioned, you could sell via seller financing to lower AGI, as all you would have to claim is the payment income - until balloon payment received.Did know an investor that had 14 properties paid off and he moved into one every two years to then sell with the $250k single exemption.

You can Host Finacial revenue tool to get an average of the income.

This aligns with my interest in passive income.

I would like to build a duplex on it for long term rental income.

This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

@Chris,Interesting points but I don't look for FHA or Fannie/Freddie loans as my income varies quite a bit and I deal mainly in commercial properties so I'm usually getting a commercial loan that originates from a bank or credit union.

My point is I'm not interested in having a second job.Currently doing analysis on identifying top zip codes for the facility based on criteria like age distribution, median income, education levels, % of home ownership.

If you did not do a "wrap mortgage" or "mirror mortgage" to help them create "notes receivable income", they may need a cosigner to have enough income to qualify for their next mortgage.

It is disheartening to witness a mentorship program that boasts substantial financial success, with students allegedly earning substantial monthly incomes, yet fails to ensure that their own employees receive even the minimum wage they are entitled to.