Any deductions (including mortgage tax, insurance etc.) added there was split accordingly and corresponding amount was shown under rental deductibles.

The difference is, that "liquid form" (cash) allows you to buy more rentals...and gain more cash flow....and isn't that what you are turning your equity into when you say "...purchase other property"? 

A hard money lender he can use.How would we go about describing this and how can we teach and help other investors know their “purchasing ability”(If possible) and be able to “stretch” it as much as possible to “expand their ability to buy” as much property as their “buying artillery” allows them too?

If you lay out the cost of ownership (maintenance for example), then that is a different presentation.If allowed, it might be interesting to say that we are going to gradually increase your rent.

HOA doesn't allow short term rentals so I've been sticking with mid terms on furnished finder.

The home office deduction is ripe for an audit. 

In my contract i gave 45 days closing time ( 2 days ago ) , so I dont have too much time also.am I allow to do listing on MLS in Florida ?? 

I definitely would not allow him on the lease, even if they request it. 

In my area they will send a letter with the maximum amount they will allow the tenant to spend in rent.

Here's the 2007 table:http://www.irs.gov/formspubs/article/0,,id=164272,00.htmlThere are numerous deductions and allowances you can take that will reduce your "gross income" down to your "taxable income".Jon