Whether they can offset it by deducting the 6% interest they pay to the bank depends on whether or not they itemize their personal deductions.

If you need MLS data, partner with a Realtor who can send you a list of all the items in a Zip Code.

@Luke RentzI am going through it at the moment, but I am going through it as a lender.I have had our attorney send the demand letter based on item 18 of the mortgage:Transfer of the property or beneficial interest in borrowerAfter the 30 day demand we will file for foreclosure.

You want them to confirm they meet those criteria or its a waste of your time, it also helps if you later deny for one of those items.

It does need the right product behind it to facilitate implementation, that much is true.Instead of refuting anything positive that I stated, you did however offer risks and other items to consider. 

If my property burns down, the Loss of Use line item on my insurance would cover lost rent.

Housing is a major item in someone's life, and is a commitment (you're not just leasing a car, or something).  

Cash flow, we don't buy any properties less than 50% of what they're worth, all our properties we own make positive cash flow in a modest way and these tow items are deal breakers if they don't pass that's test for us on str.

Gap funding usually requires collateral and or pledging of other unrelated assets. i don't like leveraging those items and are typically a oxymoron because if you have those assets and dont have cash you essentially get into a leverage position you dont need to be in.having a asset that can be pledged for a gap loan without cash to me is kind of an oxymoron in itself just my opinion. 

In my eyes the downpayment/closing cost/upfront money is worth 50% of a residential deal, and all of the other items that go into operating that property (i.e.