I assumed that we would end up basically owing nothing since depreciation, repairs and non-principle portion of our mortgage payment on the house greatly outstripped the amount paid toward principle.The tax preparer said we had to pay taxes on essentially the entire rental payment since our income was basically at 150k.

However, I recently picked up this book by Brandon Turner, Rental Property Investing, just to investigate and educate myself on some basic principles of investing into rental properties and house hacking.

The principles are the same.1.

I've thought of cash for keys, but out of principle, I want it want his record so this does not happen to any other landlord. 

Purchase price: $164,000 I bought this house with Private Money from a Wholesaler sight unseen.

Purchase price: $164,000 I bought this house with Private Money from a Wholesaler sight unseen.

@Luke Ezzo Focus on buying quality real estate rather than setting your sights on owning a specific number of doors.

Understanding financial markets, economic principles, and investment analysis will be very beneficial, especially with property valuation, investment analysis, and financial management.

If you are considering house prospecting sight unseen, I suggest to use an investor centric broker who has experience with detailed virtual tours and rehabs.

This is very long. It goes over in detail what happened to me, what caused it. How i came to buy my first home and why desperation caused me to think out of the box for a solution to repair my life and the steps i did...