However standard deduction is a set limit for a single taxpayer or married filed jointly. 

He also has funding limit of $5mil.

@Michael Dorr, Again, you've stumbled onto a brilliant application that actually will allow you to take advantage of tax free and tax deferred income and reduce debt at the same time if you wish - or to continue to leverage.If you hold long enough that you qualify for the 121 exemption (having lived in it for 2 out of the previous 5 years) then you would most certainly qualify for a 1031 exchange on the other portion.What you exchange and what is tax free is simply following the allocation your accountant sets up when putting the rental half into service. 

Need a site that allows renters to plug in their info (aka renters application). 

Here is an excerpt from an article from another BP member regarding delayed financing:If you buy a property with cash (or with a HELOC) you can receive a cash out loan on Day 1.There is not a 6 month waiting period with receiving a cash out loan if you purchased a home with cash or with a HELOCBUT you will be limited to the amount of….Your purchase price + closing costs (costs when you purchased the home)OR75% of the “After Repair Value”…WHICHEVER IS THE LOWER AMOUNT (super important)These rules are important to understand so here are two examples:Example 1: If you purchased a home with $50k of cash, and put $30k of renovations into the loan, and the home was worth $100k. 75% is $75k and $50k is your purchase price.

The complete agreement between the contractor and the owner and a clear description of any other documents which are part of the agreement.The full names, federal I.D. number (if applicable), addresses (NOT P.O.

That cashflow is really dependent on the economics with limited employers.

And we know the owner, so he gave us a fantastic deal and didn't even ask for applications or proof of income from us.

Biggest thing is to screen for tenantsTenant Screening: The Ultimate GuideMake your house "tenant proof"The New Landlord ChecklistRead and learn from other landlord mistakesThe Top 5 Landlord MistakesTenant Applicants say the dumbest thingsgood luck!

The contractors who'll work without one are largely going to be the more desperate ones.I strongly suggest when trying out a new contractor, that you limit the scope.