First focus on what kind of tenants you are looking for (college, certain employer, traveling nurses......) 

Determining whether the venture falls under a service or rental business hinges on the provision of substantial services; for instance, if a bed and breakfast service is offered, it must be reported on Schedule C, triggering a 15.3% self-employment tax.Moreover, personal use plays a crucial role in the classification of the property.

was always a fun conversation from those days (note that this is only lawful if you are actually licensed and formally affiliate that license with the firm you work at, which requires approval from your employer).And then I noticed several REI pick-me-up deals (a 'pick me up' deal is where a big bank can't figure it out, and it falls in your lap two weeks into escrow, with two weeks until scheduled close of escrow) where I figured it out when my LO couldn't and/or without his input.

The local economy is supported by several diverse sectors including healthcare, manufacturing, and retail, which sustains employment levels and underpins rental demand.

While you don't need to become a licensed real estate agent to explore other avenues for tax savings, engaging in a self-employed side job can indeed offer more opportunities for deductions.To maximize your tax savings, it's advisable to seek the expertise of a CPA specialized in real estate.

Savvy investors know it's all about value, not just the price tag.The Allure of the BargainLet's be real, who doesn't love a good steal?

Regarding your first question: the choice between Schedule E and Schedule C can significantly impact the taxation of your income, particularly in scenarios involving rental properties or self-employment.

These hours entail active involvement in managing business operations and directly contribute to the functioning of the enterprise.Considerations for Qualification:Full-Time Employment: Meeting REPS requirements can be challenging for individuals with full-time employment outside the real estate sector.

Of course I can fund any offer I make and the mortgage broker knows this but he does not ask for anything (not even proof of employment). 

Based on the information that you have given, the loan application would be in your name since you seem to be the only one employed and use the rental income (75% of rent) to fully qualify you using your employment income, rental income versus your liabilities.