My question is, if I am using my cash flow to make payments on this personal loan, would it be possible to deduct this from my property income?

Greg, something to keep in mind that I learned from my CPA a couple of years ago (I am retired now, so not an issue these days), but if you make over ($150k I believe), your rental tax deductions cannot be claimed.  

There is a $150 charge for each draw that is deducted from the draw amount.

@Daniel DietzYour analysis is in the right direction, but not quite there.1) Determine the debt financing ratio - in this case .602) 60% of the gross income is then looked at by UDFI3) 60% of all deductible expenses are applied, so 60% of straight-line depreciation, 60% of the interest on the note, 60% of property taxes, etc.4) $1000 exemption applies5) The net amount after deductions and exemptions is then taxable to the IRA, and the trust tax table is used to determine the tax amount.Even if you have a negative UDFI liability, it can be worth filing the 990-T in case you can carry that loss forward to future years.We have a UDFI calculator on our website and if you PM me, I can send a link to you (BP does not want me posting that outside content on their forums).

Without this documentation, it'd be very difficult to make any deductions from their security deposit for any damage because you wouldn't be able to prove it wasn't already there when they moved in.- Don't forget to get a home inspection done on the property if you haven't already.- Once you take over ownership, be sure to give the tenants your new payment address and instructions. 

Since you have great flexibility with the self-directed Solo 401k you can decide when it makes sense for you to make pre-tax contributions (as a self-employed your income probably varies from year to year and I'm sure there will be years when you need additional deductions), or when you want to make post-tax contributions into Roth (or convert some of your pre-tax moneys into Roth), or some years you may decide that you will not be making any contributions. 

This deal was very hairy as after we ran an O&E Report, we found out there was a  $37,001.72 IRS Lien, and 5 State Tax Liens totalling $9,750.02.Our Foreclosure attorney assured us the liens would be removed after foreclosure, so we deducted the property taxes from the purchase price and it was ours. 

If, at the end of the lease (or on month to month), then we can talk about walking the property & deducting what's necessary from the security deposit, then starting over with new sec dep and new lease with just her on lease.

As the delinquency is paid up, the amount paid would be deducted from the ongoing delinquency balance and the balance would decrease.Then I asked, what happens to the delinquency of evicted tenants.

Offer them a substantial non-refundable option fee to show I’m serious, deductible from purchase price, then use the option period to either find a cash buyer to flip it to or find suitable financing for myself to hold it.