That easy question to answer will be a really great litmus test in your due diligence toolbox.If you are evaluating a REIT, it would be wise and prudent to do your homework and select the appropriate professional to guide you.

As long as one person is a real estate professional, you can usually use rental losses offset joint income.

Readers should seek professional advice.

Readers should seek professional advice.

Check with your lender and consult a tax professional to ensure proper structuring for interest deductions.

Assuming they were professionally prepared and compliant with state law, these should define your default interest terms – probably in your note.

I will look at a few factors, rent for area, total mortgage payment with property taxes( which can be crazy in Detroit), investment in neighborhood, I like looking into places where they are building homes and apartments that attract young professionals or families , and also looking at potential to make a single family home into a duplex or something can add an adu or transform a basement to a studio apartment!

There are far fewer opportunities for leaks to develop in the drain plumbing under the sink when there are less than half the amount of joints within the plumbing.  

I definitely recommend that you seek out a Certified Cost Segregation Professional so that you are confident in the quality of the work performed and the deliverables produced.

I am a busy professional so I have limited spare time.