It's not "the rent minus the mortgage."

This person claimed $4,758 in insurance (Line 9), $6800 in mortgage interest (Line 12), $1200 in repairs (Line 14), $8326 in taxes (Line 16), and $4000 in depreciation (Line 18)….for a total of $25,084.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Funny Example: once had an agent complain, "why are you treating this like a mortgage, it's only a lease?"!

All of this happened at closing, so I currently have two mortgages on this property and am still cash flowing.

The sooner you buy, the sooner you start having someone else pay your mortgage.

Sounds like a lot of the issues are related to proper communication from BOTH sides,

Here's a breakdown for a rent-by-the-room investment property in Denver: - 6 beds/ 3 baths- Purchased in March 2024-Monthly Income: $5,300: Master: $1000; 2 large bedrooms upstairs $900; 2 bedrooms in basement: $850 and one small bedroom for $800-$300 Reserves-$3500 Mortgage Payment-avg $500 in utilities=$1000 in monthly cash flow! 

I have had so many people asking me for help re financing in Mexico that I'm studying whether there's a way I can get involved in that business to be able to help them.Finally, something to bear in mind that the best deals in Mexico can be more profitable if you pay cash than a deal with a mortgage in the US.

I've been using Safeco with success, and for short term rentals I use Proper.