I understand for tax purposes that I can only take two-thirds of the expenses related to the house to offset the rental income.

I just sold a duplex for $520,000 in four days, even though the current income is $1800/month and the market rate is only $3,000/month.

you don't just go to a website, write in some numbers and poof, get a proof of funds. you need to speak with a mortgage officer to go through your income, assets, debt, etc. and see if you qualify for it.

That plus your debt-to-income ratio is really going to be the determining factors on your budget for your house shopping.

Anyhow, ill stop babbling but this seems like a class action to me and for anyone and everyone denied licenses, those with current license and anyone who’s lost income from this.

Seller financing does not always sell for more money and if there are big price declines then you may end up having to forecloseMy recommendation is to sell it with borrower getting traditional financing and put that $ in a tax friendlier account than loan interest = ordinary income rates

The goal here is to get our active income recategorized as passive, and to do so we need to own a bit of property for it to make sense for you and your wife.

The eventual income from real estate will supplement our retirement and SS so we can do the things we want to do with our time.The best part is our kids will be in a much better place financially due to this and it can change our family tree forever.Funding:HELOC on CondoW2 JobsLightStreamEstimated Equity:4/18/2023 - $165k4/19/2024 - $207kEstimated Value of Assets:4/18/2023 - $232k4/19/2024 - $1MNothing wildly impressive for equity growth, but if our portfolio property values average 3% growth annually, we are getting $30k in appreciation instead of $7k.

@Nick Belsky how are you seeing lenders underwrite the rental income for SRO?

The dept of finance has my estimated gross income over 150k then what it really is.