@Reece O'Bryan1) There is a federally mandated minimum interest rate (~2.4% maybe, can't quite remember) so it'll start there and go up ... where I am, people are pretty focused on 8-10, which can be steep.2) you're looking at ~$40k purchase with 5k down and $35k loan at 8% for 30 years for a $250 mortgage payment (plus taxes/insurance of course)3) wholesalers want to get paid up front, so it's not too likely that they'll give you a deal straight out, but what you might do is ask them for the deals they passed on ... deals that they didn't like for whatever reason, and then pay them a birddog fee if you buy it ($500-$1000)

Hey Patrick - this is purely opinion but I would wager that the HB2 will be at a minimum altered due to pressure not only from the public but other states & federal government and business executives.

The only thing that comes close to that is the 39.6% on short term gains.The last time I checked, long term cap gains were as follows for 2016: Income Thresholds: individuals in the 10% and 15% tax brackets will pay 0% on eligible dividends and most capital gains.Qualified Dividends: income received will be taxed at the same rate as long-term capital gains.Tax Rate: individuals in the 25%, 33%, and 35% federal income tax brackets will pay 15% on capital gains, while taxpayers in the 39.6% bracket will pay 20%.You could potentially suggest seller financing which would spread his gain across a number of years: https://www.irs.gov/publications/p537/ar02.htm (but then you'd have to negotiate with him on the actual interest %).Plus, lowering the price would REDUCE his capital gains so minimally, he seems to be conflating 2 totally unrelated items (or the poor guy is really confused!).

Federal Capital Gains will most likely be 15% but could run 20% on your profit. 

As part of the loan process, you will be asked to state  (on a federal form) that your intent is to move into the home. 

Each series can choose its own federal tax status, although it is treated as one entity for Texas franchise tax purposes.

Almost 1/2 of it was financed with federal and state historic tax credits and other development incentives.  

For instance when a distribution is taken, a 10% early distribution penalty generally applies if you are under age 59 1/2 and of course  federal taxes apply as well as generally state taxes.

if you borrow from your primary homes, for a HELOC, the interest is deducted only against your federal and state marginal bracket.you cannot use it to deduct vs rentals, flips, etc.I am not a CPA so you need to get that confirmed but I have done this and this is it is done. 

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