Loss runs hurt you much more in things like workers comp than property insurance.

That's a 260,000 opportunity loss after 10 years for buying my condo instead of renting it.But that owner of the $4,800 mortgage (The bank owns the house) is still losing 2,400/month in opportunity costs.

His fees aside, a loss of revenue for this location this summer.

Factor that with a total-loss fire, half a dozen insurance claims for smaller fires, easily a hundred evictions, a thousand months of uncollected rent, and a shooting in 2010 that is as close to wearing handcuffs as I desire.If you live in Toledo and are ready to holster up and manage your own portfolio then 43608 has some real potential. 

I think Underwriting requested gross income to better assess "loss of rental income".

Reach out to me if you would like more information, and we'll see how much cash we can get back for you to offset your losses and expenditures (100% free to do the study, then they give you the amount of the savings and cost to get that money back, and you then determine if you want to move forward).There's also a FREE webinar discussing this tax strategy tomorrow, Wednesday May 15th, at 10 am PT / 1 pm EST that you may register for here (safe link): https://linda-b251e.gr8.com/Best of luck to you!

What if you run into some financial trouble and pricing declines, then you will sell the property at a loss and not be able to pay off the full HELOC. 

@David Butler is it high risk though (aside from a depression) in 2008 crash and years following homes here half the size of mine were still selling for 600-700k.....When I look at my worst case ( I would have to sell alot of my rentals to pay the hard money back in full) But other than that, I dont see much risk other than my profits beginning to dwindle to a 100-200k loss....

The K-1s I received all show a Net rental real estate income loss on Part III line 2 as expected. 

From a tax planning perspective, you are only allowed to start writing off the home once it is placed into service (once the lease starts).You are also only allowed to write off the depreciation, and any other costs or losses against the earnings from the property.That is, unless they get the real estate professional status, which requires 750 hours a year working in real estate.