There are some more considerations at play here than the tax treatment, although an important part of the equation.

If there is not timeline then simply ask the lender when it expects to respond to your request.When a borrower makes a submission to a lender for a loan consideration, it’s important the borrower submit the information the lender has asked for and in a manner that is easy to dissect.The borrower needs to include all of the relevant information, no “piece-mailing”, and don’t submit too much or random information.Do you have hard money loan tips or questions? 

Thank you for you time and consideration in this matter."

I'm taking everyone's suggestion into consideration and hopefully get that license soon!

It's a beach city.Aside from just the job and financial considerations, LA and Cincy are totally different.  

I have been very cautious in this entire thing and for these 2 notes that he does currently have there are HUNDREDS of other ones that we threw out of consideration for one reason or another.  

Chapter 5 has quick analysis methods of how to know if it is a good deal.Things that is seems you have taken into consideration are:IncomeExpensesCash flow Return on Investment (Amount you invested divided by amount you made in a year.)Some of the rules:2%rule - The 2% rule states that your monthly rent should be approximately 2% of the purchase price.50% rule - The 50% rule simply states that 50% of your income will be spent on expenses -- not including the mortgage payment.

I recently read an article that stated FHA would allow possible rents as part of loan consideration.

You've also left out a few expenses and considerations.1. 

Properties weren't even a consideration in suit.