Take into account RE taxes, Mortgage interest, charitable donations, large medical expenses, ect...compare it against 2017's total.If you took a look against the rental but used the proceeds for personal use- IE to pay off your personal residence the interest would not be deductible as a business expense. 

Account Closed absolutely not.

There are quite a few considerations to take into account when working with investors like myself in this competitive market. 

If that really is a requirement of this settlement service provider, get the lender on the horn and give them a heads up that the funds are going to be deposited in your sons account prior to being sent over, and ask what they need.

The more property I buy the more money the bank wants to see sitting in my reserve account.

Originally posted by Account Closed:You need to learn about title in your state first.

Once you find the deal then you can adjust the rental income and expenses to account for you living there.  

You also seem to have fudged the expenses to make it look good.  8% vs 10% PM, plus you left out 2 of the most critical expenses to account for, Vacancy (8.34%) and CapEx (10%).  

Oh how I wish :)@Skyler Massey, I'd go back to your 8824 that was filed on your last tax return by your account. 

I do receive rent money for the property via check, into a separate checking account not tied to the IRA.