You are negligent in your tenant training.No household furniture permitted.I would suggest you keep up on your quarterly inspections as she is likely a slob and you will need to police the entire unit. 

It doesn’t really matter if all the deductions you take is less than or equal to your  standard deduction ($24,000 if married, $18000 for head of household and $12000 if single).

By 2025, Millennials are expected to form 20 million new households in the U.S. 

What's your household income?

On line 15 of the worksheet for Schedule D the taxpayer enters $38,600 if single or married filing separately or larger amounts if married or head of household.

Factor in 50 to 70K household income can't really take you far here. 

There are now two households hosting families and they are expecting to grow

If you're purchasing a rental property, the market rent (about 50%) can be used to qualify in addition to your annual household income.

Just wanting to make sure we are looking at everything correctly before we get out of due diligence.PP: $305,000Seller is contributing $9150 to our closing costs and we are putting 5% down.HOA is $500/year and taxes were roughly $2800 last year.HOA has no rent restrictions but does have a clause in their bylaws concerning household composition.

@Max Householder Daniel i believe we have a chat already going.