I’d love your input on whether this deal could appeal to investors and how best to structure it.Property Details:Worth: ~$300,000HOA: $273/month, Taxes/Insurance: ~$170/monthCurrent Rent: $1,880/month (long-term); next tenant advertised at $1,950/month.Mid-term rental potential: ~$2,400/month (I haven’t tried this, but it’s my estimate).My Financing Idea:Large down payment: ~$125,000 (This is my priority to reinvest elsewhere).Seller-financed balance: ~$175,000 at 4.25% for 30 years.Buyers take over taxes, insurance, and HOA.Questions:1.

What's even more frustrating than asking the IRS help desk, is asking a Turbo Tax "Tax Specialist".

If you live in a state with its own income tax, you might be allowed to credit your Illinois tax against your own state’s income tax.

@Daniel Tanasa $1905 per month (mortgage +interest) , taxes (around 3600 per year) and insurance (1500 per year) => so 2330$ is my PITI

Credit is a factor as bad credit may limit options, or may have the lender require you to put 10 or 20 years of taxes and insurance into escrow. 

For tax purposes, rental income is generally recognized in the year you receive it, not when it is paid.

From a tax implication standpoint, it can be tricky but if done correctly, not a problem.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

These logs regularly end up in the Tax Court and are usually destroyed upon review.

401K loan is capped at 50K and with withdrawal, you have 10% penalty and tax implications.