Processes have been set up to provide a degree of protection to parties  involved in subject to transactions.  

This method allows each partner to defer capital gains tax on their portion of the property.It's important to perform the "drop" (distribution of property to partners) well in advance of the "swap" (sale or exchange) to comply with the "held for investment" rule.

You'll get to write off any home expenses against your rental income as well. 

@Zach Denny  Similar to what Minna posted above, I have done with a local portfolio lender bank where they set their own lending rules. 

I am a licensed agent in Kansas and Missouri as well as looking for my first investment.

Although that would be looked down upon by a lender as well because of the inherent risk of lending to someone who has too much on their plate. 

I see value in working with people who want Midwest entry level homes and as well as the higher end New Construction stuff in growth markets.

Are you thinking about managing versus a property manager or are you also thinking of selling as well?

So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well.

Quote from @Dustin Wilkes: Well hello there everyone.