If you work in any the following areas please reply and maybe we can chat! 

@Jason BocekIf you plan to file your own return - You should look into reading the following form instructionsSchedule E - supplemental income and lossesForm 4562 - Depreciation & AmortizationForm 8582 - Passive Activity Loss LimitationsHowever, you may be better off find a professional who can prepare your returns correctly and provide you tax advice.Your rehab expenses may need to be capitalized if it was paid before the property was livable.You should be entitled to other expenses outside of interest, taxes, insurance(remember paying down loan balance is not a deduction).You should interview a couple accountants here on BP.

So do all lenders have to follow Fannie Mae and Freddie Mac rules or how does that work?

Qualified Borrowers with decent credit and verifiable W-2 and/or Tax Return income can purchase a SFD, Townhome or Condo on the following program:Purchase loan at 95% LTV up to just under $851,000 with Closing Cost paid for cooperative, pre-approved borrowers. 

This money goes back to paying off their following year’s property tax, home insurance, and some of the mortgage." 

If they don't leave, then you should always follow legal means to take back the property.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

If you are going to join a team, and it's a successful team, you should follow their lead.

BTW, ask them if you can have the guest register after their open house so that you can follow-up with the people who attended. 

I’ll be following.