If you ask your tax gal what IRS form the business will be reported on, you can probably give a blank version of that form to your mortgage guy, who can draw little smiley faces and sad faces to tell you what will and will not ding you.

One more thing to take in consideration is holding costs: monthly mortgage payments, insurance, security systems, utilities, etc.Good luck to you,

While I locate and attorney to draw up the paperwork in San Antonio TX, where I am at, wanted to hear the comments, consents, or questions you may have.

He's gonna sell to someone.. could be a consideration if price was right and your prepared ahead of time to have the cat lady gone. ya if you do make offer I'd not accept pets in future. 

Thanks in advance for your consideration

I did not take the property tax, much higher than expected, into consideration when looking at the numbers, a big mistake.With that being said, I think El Paso still provide a pretty good opportunities for income properties. 

based on the title of the post, I assume you are trying to assess best path forward in drawing equity from your 2 rentals?

I know people who have sheet rocked the walls but there are some considerations you should follow in doing so. 

Thanks for the consideration.

I've found many seem to always have to re-write the book when they're told to draw something up.