Capital, time, project management, find the deal, etc.

I really want to go ahead and get pre approved for an FHA loan in order to buy a house hack, but we are still working on saving capital and due to our budget limitations, I am fearful that in order to get approved we will have to wait until my wife has two years of income under her belt and both of us can be on the loan and we can do our first house hack.

Unless you absolutely need to, don't take out the rents from either property until you have some working capital to cover unforeseen expenses such as a plumbing or AC emergency. 

Here’s the deal:$100k in capital available.Purchase price: $150kLoan Options:6.625% at 85% PP6.125% at 80% PP5.375% at 75% PPRents: $2400 per monthFirst deal with desire to grow.

Using the capital I made from those closing invested in larger yellow letter campaigns, and incrementally increase my budget from there. 

Divide the net operating income by the capitalization rate you require to invest your funds.

Ah, loving this thread with all the speculation regarding the AU NZ and Canadian property market :)Having been a property investor and developer here in Australia for over 15 years, I can attest that the market is extremely expensive, mainly in the east coast capitals (Melbourne, Sydney particularly) and the rental returns on residential are quite low, I can also assure you there is no "imminent" collapse  just around the corner. 

There are some national lenders that have 30 year products but the interest rates are higher

Local banks many customers still like going in to talk to tellers, branch managers, etc.The more national type banks tend to be more no frills, robotic, your a number, etc. 

My question is:  When we sell the house, are we paying capital gains tax on anything we get over $66,500 or over our loan of $134,000?