What tax purposes do you have?

Welcome Brandon - I have properties here in the wyoming valley.I am a native to the area.Scranton has many hoops to jump as an investor - esp. an out of the area investor.One is you'd have to hire a property manager if you do not live in the city of Scranton or within 20 miles of the city.Real estate taxes are high -that plus the current interest rate and ask prices makes cash flow an issue.You can find "deals" but please do your due diligence.Here is an example of a potential deal I am evaluating in the hill section of the city: 20 y/o, 2000 sq ft. 3b/3bath TH - Needs paint, new carpeting, and general wear and tear repairs after a 4 year tenant.

Using this tax free bucket, you can borrow against it at very low rates to pay off your student loans.  

Unit A is about 100 years old and Unit B is almost completely new.Pros:-The duplex is in a very desirable neighborhood with home value appreciation year over year at about 50+%-Rent is also in high demand within this area-Cash flows well even with high interest rates and increasing property taxes-Home is price below average cost per sq ft-The house has been renovated and some parts of it has been remodeledCons:-All issues are with Unit A, the 100 year old unit.

But she wanted to know if she can deduct the principal amount that she paid to the person off of her taxes since she has to report the interest as income. 

With you, and not leading with taxes!

If you haven't already, you should be receiving your property taxes soon. 

Hundreds of websites allow people to create fake paystubs, tax returns, W-2, bank account statements, and more.

Cost segregation has been a very popular tax strategy for real estate owners as it can provide significant tax savings.

This doesn't even touch on sales tax/occupancy tax/tourism tax remittance monthly.