About 15 years ago contract for deeds were virtually eliminated in Texas by legislation which not only limited the benefits of using a CD, but introduced severe penalties for even minor issues of non compliance.  

Some cliff notes:REP status requires 750 hours in real estate activities, and then after you hit that, the test is materially participating in your rental activities.If it is a short term rental with less than a 7 day rental period, if you materially participate, which could include at least 100 hours and that is more than anyone else, then yes possibly can use the bonus depreciation against other sources of non-passive income. 

The lack of them on listings for homes about $500K is pretty astonishing, and a lot of rentals they are non-existent. 

First, in terms of negotiating, I have experience buying a home outside the USA and I noticed the RE agent, who I assume was a negotiating expert, didn't negotiate very well.

Just bank statements showing rent payments (redacting non-related information, I assume)?

Hello All, I am new to real estate investing and looking forward to learn from you all here from the bigger pockets experts and members and reach my goal of financial freedom in next 7 to 10 year time frameRegards DY

Hate to be the dissenting voice here, but if you fully disclose that your child would be occupying the property you might run into some trouble with the non-owner occupancy that is usually required with a DSCR loan - your child falls into the category of immediate family and many undewriters would assume that if your child didn't pay their rent, either you wouldn't evict them or you would pay the rent for them, which then affects the cash-flow on the property level, which then affects the DSCR. 

Make sure to check with a cross-border tax advisor on how this could impact your overall tax strategy.Umm I'm pretty sure the US presence test only applies to non US citizens who are actually physically present in the US for over 183 days, not for owning property. 

Hi, great questions I would definitely contact the Turbo Tax CPA tax expert department, and they should walk you through the whole process that is included in the program services that you paid for with Turbo Tax. 

We're here to support your investment goals with expert advice and financing solutions.Best,Drago