You can have any lawsuit initiated by investors in state court moved to Federal court where the Reg D safe harbor will preclude any state law liability. 2.

I serve on committees when able, and generally be understanding that a program aligned with our federal HUD is going to have it's inefficiencies.

The Illinois tax can also be claimed as an itemized deduction (if you itemize deductions) on your Federal return.

An LLC doesn't make a difference in your federal taxes or what you can deduct.What you want to do is technically possible, but there are several hurdles. 

The interest on the rental is an offset to rental income, and is by definition deducted from your taxes.A 4% interest rate on a primary is like a 4.88% after rate for a taxpayer in the 22% federal tax bracket, or higher if in a state with state income taxes. 

(As AZ and your current state will fight over who gets to tax your gains with the federal government.)I have to throw most of the shade on your horrible tax guy/cpa who didn’t tell you renting it out was a $50-$100k mistake. 

Within the first month I believe the company byte federal has a data breach.

Maybe not anymore, for now: https://natlawreview.com/article/texas-federal-court-issues-nationwide-injunction-against-enforcement-corporate

Many borrowers file this form as an exclusion to their US federal taxes as they may have been taxed by the country where they are earning the income.Required Documentation for Foreign IncomeWhen it comes to processing foreign income for a loan, documents required may include:» Most recent personal tax returns» History of receipt» Proof of continuance of foreign income earnings» Conversion of the income from the foreign currency to US dollarsThese documents must be translated or completed in English so that a loan reviewer can properly evaluate the information provided.Fannie Mae & Freddie Mac GuidelinesIncome from Foreign SourceIncome from foreign sources must be reported on the borrower’s most recent U.S. individual federal income tax returns.

https://natlawreview.com/article/texas-federal-court-issues-nationwide-injunction-against-enforcement-corporate“We note this is a preliminary injunction, and we urge reporting companies to pay attention for additional updates and proceedings in this and other cases which could modify or change this order.”