My personal recommendation is to self manage first if you have a smaller unit count so you know the ins and outs so when you continue to grow and have to get a property manager you know what it's like and how to best manage the property manager because you have done it before. 

I personally would look at a duplex and see if that would be more feasible since you can qualify for a more expensive house since you can count the other units income.

Wouldn't that count for something in front of a judge.

However, if you are trying to grow your IRA wealth with an asset you are familiar with and can count on income and growth from (as opposed to taking chances in the stock market), then the depreciation and other write-offs you could take if done as a personal investment become moot.  

I'm also not counting the tax benefit you get from paying interest to the bank.  

Do not count on anything in the future.  

The issue is, than bank not counting the extra income coming in.

This premium is known as the rent credit, which, like the option fee, counts toward the down payment at the end of the term but is non-refundable if Alex and Rodney choose to not purchase the home at the end of the term.Obtaining Financing.

I'm looking to flip houses in the Santa Barbara count starting in the city of Lompoc where I'm from.

Since we bought before the year and all our rehab and costs will be counted for this years taxes, is there any tax breaks that come with a rental?