In the case of the seller does it make more sense for them to look at something like a sandwich lease as it will enable them to show the property as a "rental property" in the future and utilize the payments as income adding some relief to the debt to income ratios?

Tenants go to great lengths to keep pets without you knowing and when their pitbull breaks through a fence and mauls a kid... your agreement with a tenant (with few assets) is not going to provide you with much relief.

It's much easier to obtain temporary tax relief on SFD, 1-4 family dwellings.

Man it's a relief when you find a lender that thinks about the property as an investor.

It's a relief to know I can reduce our debt load.

There are many reliefs and deductions you can claim and there is plenty of scope for constructive capital gains tax planning.

It is my understanding that when you do a short sale right now, lets say you owe 200K and you sell it for 150k the difference in what you owe and the sales price (50K)is mortgage relief, which I understand at the present time is not being taxed.

If a borrower receives debt relief they owe taxes on the amount forgiven until they agree something different with the IRS.John Corey

In the short run, the rate cut will not give much relief to the housing market since most mortgage rates are tied to the 10 yr bond.

The Internal Revenue Service announced tax relief for Southern California taxpayers in the Presidential Disaster Area struck by severe wildfires beginning on Oct. 21, 2007.