In order to invest at a level that will eventually sustain you, make you free, you need income.

It is interesting and also hard to bid on the future. 

@Shaune L Clark IIWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

I decided to transition into real estate sales with the intention of learning the transaction side in order to aid my future investments.I currently own a 1B/1B condo in Lake Forest, CA.

I understand the mortgage rates are lower for second home compared to investment property.If I decide to rent this property in the future for any reasons (airbnb or leased), is that illegal?

Is that your tenant's attempt to  document neglect for future litigation? 

Say you would like to identify any issues now to offset future inconveniences for him. 

I started my research due to a property adjacent to mine that is going up for tax sale and am also interested in REI in the future. 

If less than that, let's say 80%, you deduct 80%. 2) if you use the money for the personal purpose, it is not deducted. let's say you use remaining 20% from above eg on a car, you can't deduct that. 3) if you hold the money at the bank that is your rentals bank account for future repairs and capex, it is deductible at the rental level.

@Ricky ReeseWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.