You will report both on their respective places.If you are 100% passive investor:The interest you pay on the loan is an expense to your business, if all of your investing is fairly passive it will be treated as an interest expense on Form 4952 http://www.irs.gov/uac/Form-4952,-Investment-Interest-Expense-DeductionYou will include 100% of the interest received on Schedule B to be reported on your 1040.Yes, you do have to issue a Form 1098 to the new buyer showing 100% of the interest paid. http://www.irs.gov/instructions/i1098/ar02.htmli.e.

It is difficult to talk on all points with respect to all states (title theory v. lien theory) and (judicial v. non-judicial).

Correct me if I am wrong, but if your plan is to purchase a home with an FHA loan, I believe it must be owner occupied for at least a year before you can convert it to a rental.With respect to the risk of the lender calling the note due, if your plan is to go ahead with the quit claim deed I would make sure to have a backup plan.

I'll have to respectfully disagree with you for the value of a credit repair company though, in my opinion they have great value.

So here's the deal: I am an engineer with a respectable income.

If you want them to respect your property, then be respectful to them and demand respect back.

My friends tell me never get someone that much older as they'll be stubborn and won't respect you.

Ive learned that as long as you show respect to the tenant, you will get it back about 85% of the time, which isnt bad in my book.I look forward to using the website.Also,Does anyone know how to edit a thumbnail picture.

And preferably 30 and 40K, respectively - especially for a multi-family...at least if you want a little cash flow.

Have more respect for your tenant than that.