It sounds from your description that it is.However, because you also do personal activities in the room (play games on your desktop), it doesn't sound like this would pass the "exclusive use" rule.Playing the games on your laptop in a different room would likely qualify the room as "exclusive use" as a home office.Also note that in the future if you take this deduction, there is a simplified method you can use to reduce the records you have to keep - just multiply the square footage of the office by $5 (if it is under 300 total square feet).

The price has nothing to do with the quality of the investment.

Proper techniques and caution needs to be applied to this specific method.  

This means that you could qualify with one method without qualifying for the other. 

Then, once each rental is done this way and applied to income or debt, they are going calculate your DTI and qualify or deny you based on the DTI requirements of that particular loan program (28%, 30%, 35%, 40%, 60+% back in 2005, whatever).The above underwriting method is know as "washing" the debt of each rental property with its income.Another way that they do it is they simply take the PITI of each property straight to the debt, and the rental income from each property straight to the income (usually also reduced to 75%); rather than washing it first.It is advantageous to the borrower's qualifications to "wash" the PITI with the rental income and then apply the remainder, whether positive or negative, to income or debt. 

Also, have you tried those other methods like you?

Many of the investors that I work with directly use online lead gen as their primary source of quality leads, that things like direct mail or cold calling as additional sources. 

I would like to supplement my FT corporate income with this method of real estate investing.

Unfortunately, in many cases, smoking will destroy the quality of your assets.

I would focus on quality deals verse quantity.