Are most of you "risking it", have spouses with insurance, paying outrageous deductibles ?

Hence mortgage deductions etc.

If your income is below $100k you can deduct up to $25k in rental losses, but lose $1 of possible deduction for every $2 you income is above $100k so no deduction after your income is $150k.

Problem is when banks look at my tax returns they say my last two years I only averaged 1700 a month after huge deductions.

I guess we now just need to figure out how to draft the documents for this arrangement.I also assume that we could somehow designate any maintenance/repairs issues that would typically fall on a landlord to be responsible for would be deducted from the escrow account? 

This means that in order for a repair to be deducted currently rather than capitalized and depreciated, the repair must not be material to the system as a whole.

The bad thing about that when you are self employed is that a lender will only use your net income after deductions to qualify you for the loan..    

At least you would get a tax deduction on a portion of that money.The key is to not quit your day job while you are exploring.  

If you can afford the small cash-flow hit, I think it will be well worth it.The interest rate tax deduction argument is silly.  

Prior to placing the property into service, almost all costs will be added to the property's basis and deducted over 27.5 years via depreciation.