Lenders earn no depreciation and actually its worse because the interest you earn is taxed at ordinary income rates.

However, two oversights have affected my calculations: (Both dumb mistakes I can only blame myself for)Higher-than-expected property taxes and municipal fees in University Heights compared to Cleveland proper.Overly optimistic rental income estimates.After adjusting for these factors, including property management costs and other expenses, the revised cash-on-cash return is about $12,000 annually, slightly over 5%.

Commercial loans are full documentation with a full income analysis, making it hard at times for investors to get into 5 plus units. 

The deduction is limited to 80% of taxable income in the carryforward year.Apply the NOL Against Taxable Income: Use the NOL to reduce your taxable income in 2023.

You can buy properties in fortaleza by having a CPF, there's even a bank called "Caixa" which allows brazilians living abroad to buy properties showing the income from overseas.

It's net income is a loss due to high turnover costs, management fees, etc. 

So besides penciling income/expenses and profit/loss, I would also be looking for comparable sales to justify your purchase price. 

When working out the money side, remember this formula: Cash on Cash Return = (Annual Rental Income - Annual Expenses (including HELOC interest)) / Total Cash InvestmentExample:HELOC Used for Down Payment: $50,000HELOC Interest Rate: 6% (This can vary)Annual HELOC Interest Expense: $50,000 x 6% = $3,000

You cant not garnish social service income.

Better income, less turnover, and less government intervention is my kind of business :)