It depends on the type of loan, loan to value, fico, income, debt, and experience. 

I wasn’t sure what I need to do to be able to take my 1099 income and right it off with my long and mid term rentals?

As my husband gets closer to retirement, his dream of owning a cabin in the woods gets stronger. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

More details:Mortgage (principal + interest): $2930/moProperty taxes: $15K/yearHome insurance: ~$1K/yrCost of home ownership/month: $4280/yr (not counting for any tax deductions related to the interest and property tax)If I account for $20K of interest and $10K of property taxes as an income deduction, then I can reduce the cost by ($30K x 35%) divided by 12 = $875 per month = $3400/mo cost of owning the houseRental income after 35% federal income tax + 9.3% state income tax = $2618/month (!!)

This way, you can have passive income coming in from multiple properties regardless of where you are living at the time.Ultimately, the best strategy for you will depend on your long-term goals, risk tolerance, and level of involvement you want in managing the properties.

I only received verbal information on annual income and credit score of the tenant.

Rates vary for commercial loans, your amortization might also be different - it depends on the bank though, but the appraisal and value of the building depends mostly on the operating income rather than comps.

@Ammon JensenFor this purpose I do not believe you can write this off, add on that you are paying ordinary income on the 10-12% which let’s say is 20% and after servicing you may actually be losing money every month.

Yes there are options upto 80% cashout with no seasoning as long as it is rented and cash flowing even or better . no income no doc .