If you strategically plan your rental's between appreciation plays and cash flow plays you can sometimes create enough depreciation loss to offset most of your taxable income while still receiving cash flow from a month to month perspective.If you have 100,000 annually in rental income or 8333 a month in gross rental income you can find a property(s) that still cash flow albeit a lot less that net -8333 a month with depreciation factored in to end up with a $0 tax liability scenario (no tax advice, consult a tax advisor).There are pros and con's at the end of the day to each since rental's arent stress free either =/ so I would always default to have a balance of different products in your portfolio depending on your goals.

(This is how, I think, most non-strategic tax accountants would do it).This question may be moot, because it depends on each individual's end goal, but was curious anyone's initial thoughts, pros/cons, or insight into other options we may be missing.

Three houses and 100K equity, start looking into strategic asset protection.

First of all, keep in mind that both the programs you've mentioned are designed and set up for first time home buyers who don't have a huge down payment, they are not set up for real estate investors, so a strategic approach is warranted.With the Freddie program, to do units, you would need 5% down instead of 3%. 

I am interested in developing a strategic approach, sharpening my research, and gaining cash flow over time through additional property acquisitions.

.), a bunch of idiots "strategically default" and allow their homes to go into foreclosure, and those foreclosed upon people are your new tenant applicants.There are a lot of BP members on here that purchased in 2007, rode the storm for a decade, and are now sitting on hundreds of thousands of dollars of equity. 

Down money is not really my concern or an issue, just trying to strategically get approved.

I guess for me the difference is the area's importance to the city's strategic growth and activeness of policing and security efforts.  

Webb.In any case, do you think Sparta is more strategic than Cookeville as far as investment properties?

Also, I strategically plan for long term.