It'll more or less be treated as self employment with the lesser of the average of the most recent two tax years over 24 months or YTD earnings over N completed months in the year, with one-off exceptions to the latter for industries known to be seasonal.... those reality TV Alaska fishermen making $100k in 2 months of work can get mortgages, and real estate agents can get mortgages in February even though their YTD is often $0. :)Start getting a detailed list of employer start/end dates together along with all W2s/1099s.

I can't confirm how much taxes you will owe (not a CPA, you should confirm this with a CPA) but you will be able to deduct prorated portion of all expenses on the property (mortgage interest, property taxes, insurance, property management fees, repairs, etc.) and then whatever is left will be taxed. 

We have had a few calls from sellers who own their homes without a mortgage, which is great but as in the case of the one we are going to see today, have roof damage from fallen trees, which entails at least 5 days of rain into the home.I plan to wholesale the property, has anyone had any experience wholesaling properties with substantial damage?

Rather than our own home, we do not carry mortgage on any of the rentals.We're thinking to maximize the leverage to buy more rental properties without using more cash reserve, and want to ask BP members' advice on building a bigger investment portfolio by borrowing, or should we just wait for the current inventories to appreciate instead?

My current mortgage with taxes is 2k. 

You make the required minimum DP and mortgage the rest.

Best to keep tenants happy and paying your mortgage.

. - I have taken 3 loans from my TSP (401K)- I cashed out my Roth IRA, twice- I bought three homes using low down payment mortgages and lived in them as my primary residence (FHA 3.5% and 2X Conventional 5%)- I used the BRRRR method and did a cash out refinance to buy another property- I saved every extra penny for years for down payments- I took out a HELOC I have experienced considerable appreciation in some of my earlier purchases and I am looking at doing a 1031 exchange.At the end of the day, I found out that I wasn't nearly as limited as I originally believed.

As well, I have a small new construction condo project and having a really hard time finding funds for it.I did few flips using my own credit and conventional mortgage to finance it but there's certain limitations to these approach as well as rehab cost is not lender's concern.

@Jonathan RosadoThe answer is going to depend on several factors1) What is the current rate on your mortgage if you have one?