Mortgage info:balance: $139,614.07interest rate: 3.875%payment: $1,154.27 ($251.37 principle, $451.65 interest, $468.48 insurance and taxes)House:3br, 2.5 bath, 1637sq ft, full base partially finished basementhttp://www.zillow.com/homedetails/329-E-320th-St-W...Prices:Zillow: $161,455Realtor: $160k - 175kManagement Company I spoke with: $1,350-$1,450Originally I dismissed the idea when they gave me the quote for the rent and I put it up for sale.

I am looking at a property in the E Central Park Ave / Brady St neighborhood of Davenport, IA.

So for you, since you used the HELOC to purchase a rental, we would deduct the interest on Sch E associated with that rental. 

Personally I follow the advice in the E-Myth.  

If you download his e-book it has a sample deal package at the end. 

http://cornerstone-company.com/october-2015-real-e...

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!

Originally posted by @Philip E.

They are located on E.

FHA is definitely a way to buy, yes, but there are so many other ways. buying in the conventional manner, i. e, seeing an agent and buying a house on the listing service, is ok, but your best deals are not there. in fact, your best deals aren't even listed, anywhere!!!