I'm confused why would you say that rental income is taxed in an IRA?

Screen them as you normally would - does their income substantiate their portion of the rent +/- a little for changes in what the housing authority will pay out?

Lenders will want to know if the property is generating income and if it qualifies for a DSCR loan or traditional financing.

Quote from @Mordechai Chaimovitz: Can someone please explain to me why people are buying 2 flats that rent comps show $4,600 a month in income for 665k+?

However, what if you prefer simplicity, limited risk, and are living off of the income? 

I also would like to reduce the audit risk due to large bonus depreciation. 

Depending on your practice size and income level, you may just want to start with maxing out 401k and also adopting a defined benefit plan before committing to becoming a lifelong real estate investor.  

This reduces your housing payment and helps you build equity. 

For me as well as the seller.First, you have to define Sub to financing.Do you mean the reckless kind where you overpay for a property, take over the financing and borrow from others to cover closing costs and holding costs when you have no money, no credit, no income, no reserves and can't tell a warranty deed from a deed of trust and you close on the kitchen counteror do you meanbuying below market value, already having a nice income, having reserves, using escrow and title, already understanding the due on sale clause, have done a lot of creative purchases and know when to use and when not to use creative finance and how to recover if something goes amiss?

The problem is, that's not proper accounting because a credit card is a liability, and doing this workaround will reduce your assets rather than increase your liabilities, which totally messes up your balance sheet and debt-to-income ratios.