(gross rents $4900; 8% PM; mortgage+insur+taxes = $3600/mo).

I have warned countless people that the "new", "Cheapest", and "shaking up the insurance market" carriers typically come into the market under priced, have a wave of claims, then they either jack up premiums to survive or fire their staff to keep heads above water.

You do not need to provide tax returns, W2s, paystubs, etc.

Are you able to use it easily, only with a HELOC.If you lose your tax deductions, then Uncle Sam is happy to take more of your money each year.Good Investing...

Unless the landlord smelt the weed himself wouldn't it just be a claim?

You can use it as a downpayment on a property over $450k and use leverage tax free.

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

I have a followup question - I will realize a lot of capital gain from this home in Idaho, so I think unless I purchase a new primary residence I will have to pay that capital gains tax. 

I'm assuming you are arriving at your cash flow number by applying Gross income - cap ex, maintenance, utilities, vacancy, tax, insurance, mgt, landscape/snow & Debt service?

Someone can be a brilliant tax person but horrible to work with, and also vice versa.