The "win" is tax shelter and close to negative on schedule E. 

Both GSE's - Fannie and Freddie will require most recent 1040's with Schedule E to verify rental income received.

LOL.. and those folks don't post on BP.. on BP its all blue sky rentals are the way to financial freedom quit your day job.. live the life you deserve etc etc.. well for some for sure.. for many NOPE.. they are like why did I do that.. and they exit no matter the loss.now this is more prevelant in the lower value asset markets.. not all markets are like this.But I look at when I started hard money lending in 01 for turn key and I started in Detroit.. the homes there appraised at that time for 120 to 140 each rented for what they rent for today 800 to 900 in those days the .05% rule was fine.. we loan 80k as a HML .. well those homes tanked as you probably know many went down to less than 10k in value.. thankfully the 200 plus I did there I got refinanced out of them all. but you know long term lender lost their lunch and so did most of the investors in those days.I am not prediciting another major meltdown.. but even  break even is not a good position to be in with rental properties in my humble opinion the risk/reward and hassle factor just weights on you.. but I know I am in the VAST minority in my thinking.So my thought is you really need to get these things paid for and keep them forever.. but life happens and I would say 80% of people that have that thought process going in never make it past about 7 or 8 years.

I am not a lawyer etc, but if your past schedule e’s have normal looking deductions you should not need to worry.

Most weight given to last 2 years.7.

Thanks for your responses @Ann Bellamy and @James E.

Hi all,I am an active-duty Staff Sergeant (E-6) in the United States Marine Corps currently overseas and looking to start my real estate portfolio.

I’m also an engineer (Mech E) and now have 3 rentals out of state (Cleveland and Memphis).

I’m looking to open an online account with vanguard, TD Ameritrade, E*Trade, or maybe even the Robinhood ap with my checkbook sdira to buy REITS.

@Paul JellicoeInterac e-Transfer is the most common electronic payment used by our tenants.