If you sell within 3 years of moving out, you exclude your capital gains(up to $500,000) but you still include as income the amount of accumulated depreciation on the propertyif you sell after 3 years of moving out, you may capital gains and tax on depreciation recapture.best of luck.

Hi, Applicant has good income and job, but ha filed a Bankruptcy in 2015.

The number usually varies from 10-20% depending on credit score, property analysis, etc.Some lenders will work with any level of investor experience, credit scores as low as 660 and can close in as little as 10 days (there are loan options for 640-660 credit scores- they require 20% down).Another good thing is interest only and 6-24 month loan terms- you can refinance by selling or refinancing to a long term DSCR rental property loan at any time once you complete the rehab.Once the property is ready you can sell it or if you want to keep the property as a long term investment, you can underwrite the loan based on your income /debt to income (DTI) ratios or you can go the DSCR route where the loan is underwritten based on the actual or market rents from the appraisal.DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

I recently purchased a 7 unit with 20% NET income.

Purchase price: $500,000 Cash invested: $100,000 Purchase aimed at creating a steady income stream, while also offering significant potential for long-term appreciation.

Purchase price: $830,000 Cash invested: $225,000 The invested gain from the previous sale was utilized to upgrade, leveraging an ideal location for long-term appreciation, ultimately ensuring income during retirement.

The RRIO registration form doesn't reference a Business License Tax Certificate but when I try to apply online it requires you to have a Business License Tax Certificate before getting the RRIO. 

@Wayne Brooks I thought all rental income is considered a passive income?

Domicile: WA State (income tax free)Property location (Texas): (income tax free)LT gains + Depreciation recapture ~ $300k on a $500k income property ~effective / average tax rate = 12% for past umpteen yrs (relatively low income, avoiding IRMAA and doing Roth rolls (no 'realized' income, just transferring from tIRA to Roth = vast majority of annual MAGI income)In the end (coming soon, ~17 yrs) ALL remaining estate will go to charities / Charitable Foundation / DAF.

I understand for tax purposes that I can only take two-thirds of the expenses related to the house to offset the rental income.