Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

But there is only so many ways to skin the real estate cat.. 

Will they finance 100% of the purchase and renovation or will they want skin in the game (you putting money in).Most do not do 100% funding so beore going down more rabbit holes, make sure you have the $ aspect situated first.

So back to the drawing board, but for myself the big takeaway is to continue on the course that I set out on and too continually learn and stay involved with goals that I set out on and to stay focused.

I have other mobile homes which have been moved more than once and therefore will not qualify for a VA or FHA Loan so I'm doing  Rent to Own alongside a Rental Lease so that I can evict instead of foreclose on. 

If you have money for large down payment that can reduce the payment which lowers the income required to qualify. 

That's a mine field no one on here is qualified to answer. ;) But your rental is doing well.

Most mortgages aren't "assumable" (able to be transferred) and even if it is the new borrower would need to qualify the same as the original borrower.

We only work with investors who take the steps to get pre-qualified and spend a bit of time getting to know our company and allowing us to get to know them.