@Mike Scott-SmithThe cabin property should qualify for depreciation.Based are from the Georgia instructions.

I'm not sure if I would even qualify for financing on most of these.

In other words NPNs would not qualify

I would advertise the unit and see if you can find a better qualified tenant.  

This could be your saving grace as you can file a complaint with TREC and possibly get at his E and O insurance. 

The VA loan covers a $450k purchase (given that you qualify...I will) with no downpayment.

Sometimes your local housing authority will have a website where you can go and request a landlord package which will give you all the information that you need to qualify. not, give them a call and they will be able to give you the information you need to qualify.

I make sure mine qualifies as Schedule E income (rental income, not self-employment income).  

It would take me about another year and a half before i can qualify for FHA or conventional under my personal name.

The only thing is I think you need to have a certain credit score to qualify and have a constant flow of income from a job.