Set up payments with a loan servicing company to collect PITI with the payor paying the fees  and requiring the payor to carry a home owners policy naming the lender as the mortgagee/additional loss payee.

From there, you should be able to speak to anyone in the loss mitigation or loan servicing department, once authorized.

If not, you should lower that limit. 

Essential I have 1 rental that brought in $8750But between all my expenses I am seeing a total loss of approx. $17,000 between flights, office supplies, ect. 

Affordable Housing Incentives - The city of Oakland will reduce set back requirements to build on a lot, and actually increased the number of permitted units above the zoning limits if you build a certain % of affordable housing units into the building, and commit to keeping the rental units in a program like section 8 for 55 years ( see here).

The option to have your wife in real estate is good if you have rental losses and a lot of depreciation.

If already placed in service, I would still deduct it even though you have a loss as you can carry forward your loss. 

I have seen on this website answers both ways regarding this (the site administrator saying leave it in Sch A, and his colleague (also a enrolled agent) advising that it can be written off in Sch E, but that there are certain restrictions mainly -- you must have passive activity gains where the deductions are covered (no passive activity loss carry over allowed.

They are the primary difference between profit and loss for YOU.The PM is just as important as the deal you find, may be more important.

Hello BP, I herd of some banks here in Indianapolis that will bundle up about 5 mortgages into one big lone once you reach your limit of mortgages so you can continue to get new mortgages.