It will be added to the loan balance, so either way you will end up paying it. 

So for rental, depending on when you are using the proceeds (before placing the house in service or after) determines if it is deductible right away, or needs to be added to the basis of the property and depreciated over time. 

She stated that I have to add an umbrella policy to my auto policy before it can be added to any real estate, and before I can do that, the coverage on my auto must be increased before they can write a policy on it. 

They should be adding the rental income for the 2nd unit to further offset your DTI.

This can vary, so it's essential to discuss specifics with a tax professional.Tax Returns- While you might not take current year deductions for some expenses, you should still keep thorough records of all costs, which can be important when selling or converting the property.Future deductions-  If you convert the property to a rental or sell it, some of the expenses you've incurred while holding it might be added to your basis in the property.

I will be adding that to my toolbelt. 

That could be adding another bedroom, renting out a detached garage as a storage unit, or just finding ways to get ahead of the competition and up your occupancy. 

There are many exclusions or endorsements that can be added to a policy.

I'm looking to update my insurance policies this year and one thing I think I should be adding is loss of rents.

Even additional people can be added to bank account.