Recent IRS rules have changed and now many such items can be written off in the year they were obtained - - this is why you need a CPA and not some tax service (HRB.s.) or online filing program.

I My friend was in the same situation as you 1 year ago I told her to get a second job and start working on her credit. 1 year later she has over 40k saved and credit is up over 700 now.

Foreclosure was already started & we were lucky to know it was finished & occupant evicted by the time we got it.This saved us a lot of time and money in a judicial state like Wisconsin.

One of the ways I found could bring the deal back to the table is if I use one of the Flat Fee MLS listing services and save almost a full 3% in my side of the commission to an agent.

They money you are saving on personal rent should/could fairly be considered income.

Also, If you pay off your mortgage early and truly own your house the ability to leverage decreases and you forfeit the ability to invest that money in other vehicles that would ideally bring in better returns than the money saved through paying down your home.

I just don't see much risk with the situation I mentioned above, unless of course I am completely without a job and wasting away my saving. 

I'm in the game and taking action....thanks to BiggerPockets for the great resources and connections like @Bill Hampton, who helped me to set up my investment LLC.I look forward to quickly renting this unit and saving up for a 3rd home to add to my rental portfolio.

I am pretty sure I take all the deductions I'm due and I've vehicles such as as solo 401K, self-directed IRA, Roth, etc. but I think I might be missing out on larger-picture strategies for investing and tax savings.

I am currently living below my means, and have almost 9k in savings, but I am trying to think of clever ways to expand my means.