I can see how this idea could possibly apply to other FHA requests too. 

That time I was looking at getting 201 S Washington (a 5 unit rental) and S Washington wasn't designated as STR and Gettysburg City said that I had to go thru the process of applying for zoning licence which is followed by a hearing with the neighbors as the jury who would hand me the verdict - yes/no.I like analyzing markets and observing them for a number of months/years.

If she qualifies and materially participates, passive loss limitations won’t apply, allowing you to offset your income with cost segregation and bonus depreciation.This post does not create a CPA-Client relationship.

Depreciation recapture applies at ordinary income rates capped at 25%, increasing your tax liability.

Will this seller financed payment count as a debt if I apply for traditional financing in the future?

Quote from @Cody Caswell: Quote from @Jay Hurst: Quote from @Cody Caswell: Is it true you can use taxes, depreciation, insurance, and mortgage interest for qualifying income when applying for an FHA loan on a primary residence? 

Just trying to figure out how to best apply it. 

@Ezra Avery you might want to read below to understand Classes of Property/Tenants.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It’s in pretty good shape at this point, rentable.I travel a lot for work, and a friend gave me the idea to do a short term rental as a one bedroom, locking all of my stuff in the other bedroom and office - I applied today and was denied because I don’t own both sides of my HPR, even though I have written permission from the owner of the other half….

i told them to apply to programs that are available to help with electric bill.