That said, delivering this level of quality requires a significant investment of time and attention on every engagement, which is why I simply can’t charge low rates.

I had specifically asked for numbers including mortgage payments and they emailed to me.

Traditional 30 year fixed mortgage How did you add value to the deal?

You'll pay a higher rate and may need to have more of your own money in the deal in case of unexpected repairs. 

I think about this often, its really just running the numbers - if you borrow 100k at an 8% interest rate, will the investment get you more than an 8% return?

@Arlinda RexhoWhen considering a 32-64 unit multifamily property in Texas, focus on strong locations with population growth, proximity to amenities, and low crime rates.

., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.

I just completed my 20 hour course for my Illinois Mortgage Lending License and the final step is taking the state exam.

In your case, changing the property from a rental to your primary residence constitutes a change in use.The depreciation recapture will be calculated based on the fair market value of the building at the time of conversion, not including the land value.Since you're tearing down the existing structure, the entire amount of depreciation taken over the past two years will likely be recaptured, as the building's value at conversion will effectively be zero.The recaptured amount will be taxed as ordinary income, up to a maximum rate of 25% for residential rental property (Section 1250 property).

For the property I purchase, I’d like to keep my monthly mortgage payments at $2,000 or less.I prefer a turn-key property since this is my first rental, and I want to start generating monthly cash flow immediately without the delay of repairs or managing two mortgages.