Pay mind to Paul's suggestions, they are their weight in gold.  

So my question is this: where on my schedule E would i deduct the rental?

I came up with a little trick to fix the problem, and I've been selling the information as an e-book for a small fee.  

Bill, in order to advertise you need to be registered with the SEC, however if you meet somebody and have three touches (ie. you send them an e-mail and they respond that is one touch) once you have known them for more than 30 days you can then ask them if they would lend you money on a project.

I won't do much to the house unless something comes up on the inspection except for taking down a wall (non-weight bearing) that someone built in the garage.

Good wholesalers are worth their weight in gold.  

You can download an app that has it as a free e-book, if that helps!  

I weight great rental history and employment history much higher than credit.  

E-mail me and I can give you some specific names.

In the end I paid more for weight overage.