It is also important to stick to the requirements outlined in your lease agreement, as this will help prevent any misunderstandings or disputes that may arise.

My apologies for the misunderstanding with “second set of eyes” what I really meant was having a professional file to ensure I’m not missing something, pay full price and have them file for me. 

Or am I misunderstanding something?

Chana O'Leary Sorry, am I misunderstanding something?

Carlos Altamirano , I apologize for the misunderstanding.

"What I'm getting from everyone else is that I can Maybe I'm misunderstanding what your saying...

It sounds like the 2 couples have a good working relationship so far but this deal is more complex and therefore more prone to misunderstandings. 

There is likely a misunderstanding with the information provided to the CPA, so being able to review the code will help provide clarity and a meeting of the minds.Interest on rentals is considered "business interest" and is fully deductible regardless of whether an entity is used.

I'd like to collect rent on the 1st and then pay the mortgage on the 7th to prevent the lag of pulling money out of my property account just to put it back in within a day or two, but I want to make sure that my interest won't go up in the 6 additional days if I pay it on the 7th.Can someone let me know if that makes sense or if I'm misunderstanding how mortgage interest is calculated?

ok thanks. i just wanted to clarify. because the person i heard this from was at a class about being a "raiser" to raise money for a loan or for a fund. and they were talking about raising money from accredited investors opposed to non-accredited. and the requirement to be accredited was that you needed to make $200k or more for 2 consecutive years in a row. and then the class also mentioned some things about refinancing certain deals. so i think this person was getting something mixed up and confused and combining the being an accredited investor with the refinance part. and i was trying to tell them that i think they are misunderstanding but they kept telling me i was wrong.any other responses / answers would be great.