So I should file it under the Schedule E.But my question is, how do I actually file it on the schedule E? 

I'm closing on another one on 128, E 146th, and 74th.

My first post on BP, I've been a lurker for a long time.I sold my e-commerce company last year and have been doing some real-estate investing, I've bought and fixed up several personal homes over the years and have always wanted to get into real-estate investing.I live in CA, and I bought my first investment property in Temple Texas at the beginning of the year. 

The weightings and note rates will matter a lot here.

@Victoria E. - Companies like Call The Underwriter and Texas Pride Lending provide third party underwriting services

.- I get what you mean about knowing your market, but we are all nerds here at bp while the average person is just trying to get into real estate or make some moves to help their financial situation so when they see an "expert" say something it carries weight.

"(11) To refuse to rent to a tenant solely because of an adverse credit report or lack of credit history without reference to additional information provided pursuant to Section 38-105(e).

We tell them they will get updates via e-mail, we send a mass e-mail out when it is rented "thank you for your interest, we wanted to let you know that the unit is now rented." 

I can set up the rent payments, collect them into easy-to-create bank accounts, and then have the system automatically categorize those payments for my Schedule E at the end of the year because Baselane already knows what each of the payments was.

Here is the property:   https://www.zillow.com/homedetails/5-E-Penn-Ave-Wernersville...The net operating income after expenses is $292K, and the proforma net income after expenses is $349K.