Rental income and expenses, such as mortgage interest, property taxes, repairs, and depreciation, can be reported on Schedule E of your personal tax return, regardless of ownership structure. 

So, I also require that :Monthly Rent + Monthly Debt Payments <= Gross MONTHLY Rent * 45%This is similar to how mortgage qualifications work by considering the applicants' debt loan along with their housing cost in relation to their income.

Never heard of him.Make sure you perform proper due diligence.

The first question is, can I use a second home mortgage (10% down and lower interest rate) for this. 

One of my biggest wins of the year came when I refinanced my mortgage.

Pair the deal with a cash flowing instrument like a tbill, mortgage note, or some other form of fixed income to help yield too.

Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

So in 3 years if you bought a $150,000 house, you would likely have accumulated $12,000 -$20,000 in equity on your $30,000 initial investment - not to mention your tenant paying down your mortgage, plus some really awesome tax advantages (3.3% depreciation, etc.), plus hopefully some cash flow!  

Rough calculations on what I need to be looking for:90k deal (purchase and renovations to get max rent)20% down = 18k from me80% bank loan at 8%, 20 yr amortization = 72k-------------------------------------------------- Here's my DSCR calculation:Calculate Net Operating Income (NOI):Monthly rent: $125040% expense ratio (taxes, insurance, repairs, vacancy) = $480NOI: $1250 - $500 = $750Calculate Monthly Mortgage Payment:Loan Amount: $75,000Interest Rate: 8% per year (0.08/12 = 0.006667 monthly)Loan Term: 20 years (20 * 12 = 240 months)Monthly Payment ≈ $627.83Calculate DSCR:DSCR = NOI / Monthly Mortgage PaymentDSCR = $750 / $627.83DSCR ≈ 1.20Therefore, with a $75,000 mortgage at 8% interest over 20 years, the DSCR is approximately 1.20

We've averaged around 7% for mortgage rates for the past two years now…I think if we can see a settling somewhere in the 6% range, if not sub 6%, we will see nice consumer confidence not only for home values, but rent values as well.