Meanwhile, you also will be able to take advantage of the passive allowed losses that have been accruing for all those years.Was any of this what you were looking for? 

@John DeyrupI believe you can send them a statement of the account, showing the interest accrued.

My private money deals are typically structured like this:-PURCHASE: Private money lender funds anywhere between 70-100% of the purchase price-REHAB: Private money lender funds 100% of the rehab-INTEREST: Private money lender accrues interest on balance outstanding at the rate of 5-8%, interest-only.

In the event of a default my loan terms provide me the right to advance the payments on the (senior) first and add that amount to my principal balance and accrue interest on the advance at the default rate of interest of my junior note.So assume a default on both loans-(1st & 2nd) and I advance the payments on the first loan and add that to the balance of my loan, if I had to foreclose and I wipe any junior liens to my note and I'm the only one at the trustee's sale that bids, can I just continue making the payments on the first and rent the property out, or do I have to payoff the first.  

Can I deduct the mortgage interest that accrued while it was my primary residence?

Inflation is going to drive rents up and keep your debt fixed I think I'd dump the property management frankly,  You might as well make the phone calls as opposed to the pm.gaining experience: not just operating but the financial side, depreciation losses will go against income of the property and accrue against taxes at an eventual sle (you are taxed 25% on "recapture" but overall its still a gain.

Some require that you pay the tenants any interest accrued, some let you keep the interest.I would suggest opening your account with the bank that you think is most likely to fund your next deal!

And the above example assumes you did not finance the purchase... so no interest expense accruing on the money borrowed. 

My minimum is just the interest amount accrued.

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