Quote from @Sara Valentine: I have rented my personal home as a fully furnished/lots of amenities 3 month rental jan, feb, and march the past 3 years.

RELATIONSHIP WITH YOUR ADVISORS 🤝Good QIs:Work well with your teamRespect professional boundariesCommunicate clearlyStay in their laneRemember: The best QI relationships are professional, not personal!

And assuming a 0% return on the $200k you could have in the bank earning $10k/year if you sold. 

@Mike Terry Yes, it is conservative, but that's because it's the operating expense margin that most of the banks I work with for my clients use in their underwriting.

this is only a good idea if you have reason to believe that the area will be appreciating quickly, which is called speculation and akin to gambling not investing. me personally, I would rather put my money on black than bank on market appreciation. negative cash flow rentals are a time suck and money suck.

Personally, I do not like any strategy or approach that aims to benefit from the misfortune of others.

Unfortunately, this problem waste a lot of my time that could be spent on other investments.I have used the same tax professional for many years and he is very educated, but also much older than me and it's hard for me to understand all the reasons he has expressed why is better to put the rental on my personal tax returns.

And I don't think they're taking applications yet, but you'll likely have to apply in person.

I personally target Lauderdale, Limestone, Morgan, and Madison Counties.

I want to refinance it about 12-18 months later into a bank loan. pull out money to pay off the HELOC and enough for a down on a 2nd house or duplex.