Sub $1k rentals have a higher % to get enough reserves.

It may not violate the judgment (though you would want to confirm that by reading the judgment).

With your income and cash reserves, I would not recommend buying something right now, even if someone would approve you.

You don't want to overleverage and not have ANY reserve for if things hit the fan though.

I am ok to use their financing now but the issue is they sent me an email to confirm contract cancellation.

The real estate projets we invested in were also legit projects that were confirmed. 

Do we call the city's planning commission to confirm?

Again, not a tax professional and you definitely want to talk to one to confirm, but this is just information I'm recalling from a CE class taken a while back.Also, I believe the $1 million threshold on the mortgage interest deduction was reduced to $750k back in 2018, if the subject property for the mortgage the deduction is based off was acquired after Jan 1, 2018.

Some common methods are through strategies like charging extra fees for covered parking or reserved spaces, renting out common areas for parties or events, adding or increasing pet fees, sub metering utilities, and converting unused spaces into storage units that tenants can rent.TIP: Ensure you understand any services that are included with tenant rents and the existing sources of miscellaneous revenue, if any exist.

When I ran my numbers, I ran with increasing the rent $50 right away and then over time adjusting it slowly with the tenant to market rent (or market rent to a new tenant if this one left).It's not a cash flowing property as is when considering variable expenses, but is appealing to me because of the maintenance already done, purchase price, close to home (so I can work on it with my kids to teach them), and with some businesses I can do 2+ year leases for a little more stability.I would like the seller finance so I can keep more reserves as I'm also looking at a STR cabin purchase.