If the trustee is a legal entity, it must have a principal place of business in Delaware.

When filing last year's taxes all of the rental income was shielded by writing off losses via a combination of depreciation, loan interest, fees for loan origination, other closing costs etc.It got me thinking though as time goes on the amount of interest that I will be able to write off will decrease as more of my mortgage payment is on principal and not interest.

First, I assumed you put 20% down for a total of around 30K, making your principal borrowed around 127K.  

Otherwise anyone can look up your entity on the Secretary of State's website and see that the LLC is you.That said, we also use land trusts for property ownership and anonymity in the public record, but the principal is the same - the beneficiary (owner) of the land trust is still a taxpayer.One other thing to note, and an attorney or an accountant will tell you this as well.

Wholesaling without a license may be acceptable if you are acting as a principal, which requires entering the contract with the intent and ability to close (i.e., version #1 and possibly version #2 above).Good luck and be careful out there.  

That is why I focus on retail pretty much 100% these days as a principal broker and a developer.

I agree the short sale is not even an option(thankfully) Even with a standard minimum payment a good chunk of $ is rapidly paying down the principal.

I was under the impression that mortgage principal was tax deductible.

I plan to invest for the next 40 years therefore, at the end of 40 years, with 20K in principal and 10K invested each year, with a 9% return I would end up with 4.3 Million according to the compound interest calculator that I used, with little headache along the way.  

I am a commercial principal retail broker and real estate developer so know most of the brands.Jersey Mike's has one of the best sandwiches.