As a senior baseball player looking to eventually play pro ball after this spring semester, I acquired a serious interest in doing real estate as another source of income.

Ability to repay - can you as the borrower afford the payments based on the loan amount.Typically they will not take into consideration the mortgage on a new property that has not been taken out as that is new.

Tom, Based on what you've provided, if the property was held over one year, you'd be subject to the long term capital gains rates and any depreciation that you took on the property in the past would have to be "recaptured" (Added to your income) at the short term tax rates (but it will not exceed 25%). 

@Brady Ascheman To make the decision strictly from a Property Management standpoint you have to calculate your vacancy cost and cost to acquire a new tenant to know if a rental increase is even a smart play. 

The answer is NO, based on the language of Section 152(c)(3)(A):...an individual meets the requirements of this paragraph if...

Then, once you incorporate an entity structure, that will play a part as well.Hope that helps!

Even if rents are trending up, if your tenant base can't make ends meet, the asset won't perform.

@Cherie Carr deal machine has an app for that it subscription based.

As a result the property, based on capitalization rates, can now be sold for $450,000.  

@Adam M.The cost for a real estate tax accountant will vary based on location, experience, education and other factors, just like any other professional.