In general, when you are self-employed (not a w2 enployee) and actively work in your business, you report the income and deduct allowed expenses on Schedule C.

I’m active duty Air Force, Texas real estate agent, and investor with three homes purchased with a VA loan.I wish you all the best in your investing journey!

I'm active duty Air Force, a local real estate agent, and a third-generation real estate investor.Maybe we can jump on a call with your husband or meet up to discuss your situation in greater detail.I wish you all the best.

Additionally, townhomes appreciate much slower than detached single family homes tend to.My personal advice would be to sell this property and then 1031 either into a better property near you that is low maintenance, or (probably better for you) invest the capital into a syndication or partnering with an active investor where you should get returns better than the stock market. 

I'm Ben Crumbliss from Lancaster, Ohio, an active real estate agent in the area, and I am searching for my family's first rental property.

I’m active duty military retiring in about seven months.I’m a third-generation real estate investor with four properties.

For buying a second house, should I declare high taxes again or save for a 20% down payment to qualify for a loan based on my active income, without needing tax returns?

First lien does not get affected they can only get what they are owed.So while I can see how you thought this was cool.. it certainly is not and its highly illegal.. and if I was there and I was bidding and witnessed this activity I would file a complaint with the DA and FBI

Ordinances and codes can be complex and lengthy, I would recommend engaging an architect to assist and give in-depth analysis.  

Looking to acquire a qualified buyer/investor list of active buyers in our market?