Hi Eric,If you are talking about your personal tax liability (at the federal level), the formula I use is: NOI-Total Debt Service= Cash Flow; Cash Flow+Principal Payments Added Back (on debt service)-Depreciation=Taxable Income/Loss. 

All:There is supposed to be additional guidance coming out this fall from the Federal Government and MN DEED has a section on their WEB site dedicated to this topic as well. 

However, on your primary home it will be more strict as there are a lot more federal compliance rules involved. 

Your current business entity can be your trustee.Get a Federal Employee Identification Number for free at IRS.Gov.

If you are owner occupying a four unit or less property you are exempt from the federal fair housing acts.

I recently got a HELOC on an investment property through Navy Federal.

He has scholarships and federal unsubsidized loans that cover full tuition, fees and some room and board...but not all.Prob going to need around $20k for college.I have secured a $30k loan using the property for collateral to cover the college expenses.What would you do with the $30k?

Remember at the end of the day the banks are told what to do by regulators at the state and federal level they may love you but they may have to take orders from on high. 

VerifyInvestor - https://verifyinvestor.com/ - resource for verification of accredited investor status as required by federal laws.

There is some talk that those are going away starting this tax year, but I received one with my VA loan and it has saved me thousands in federal taxes over the past 5 years.If the lender cannot do an MCC for you, than don't use that lender.