I am a loan officer and am happy to discuss more creating financing options over the phone if it would help.

Readers should seek professional advice.

Readers should seek professional advice.

Check with your lender and consult a tax professional to ensure proper structuring for interest deductions.

As long as one person is a real estate professional, you can usually use rental losses offset joint income.

Assuming they were professionally prepared and compliant with state law, these should define your default interest terms – probably in your note.

@Ben Azubuike it's technically too late to add anything else if you've already signed a purchase contract.You can try to negotiate with the seller for review of:LeaseRent LedgerTenant approval criteriaAt closing you also want acceptable copies of tenant's: DL, SSN, paystub, bank statement, phone & email.

I am a busy professional so I have limited spare time.

I definitely recommend that you seek out a Certified Cost Segregation Professional so that you are confident in the quality of the work performed and the deliverables produced.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?