Now, you can decided if you are willing to make that trade-off.FWIW, I would ALWAYS still get the inspection done.

@Weng L.You can apply for an EIN for your LLC.Just because an LLC has an EIN means that there is a separate tax filing obligation.If your LLC is doing a rental, the activity gets reported on schedule E and you don't like the EIN anywhere.If your LLC is doing another business that gets reported on schedule C, the name of the LLC along with the EIN are reported on sch C.If you elected for your LLC to be taxed as a corporation, you will need to file a corporate tax return.

Is it perfectly okay to utilize this interest and deduct it from my rental income on Schedule E?

I lived and managed a 3 family home owned by my brother where I cleaned, minor fixes things, painted the floor where I lived and left better than I got it, I also took care of renters, collected rent, cut grass, and cleaned snow in winter for a fair trade of really low rent where I was able to save money while learning to manage a rental property.

@Sophie Dolezel I can see the contents on the course once you join the e-mail vivian sent it to us. 

I have identified a pair of duplexes for my 1031 exchange proceeds to go towards. I will have to carry a note on them, however I am putting down 47%+ on the total for both of them. 
Snag...I retire from the service i...

@James Hughes Hey James, I am studying Computer Science at Fsu, and would love to work with you to make a program free of charge to send out mass e-mails, text messages etc... should be really easy as long as a file is given with the names and numbers.

Not sure where you are based...here in Texas the lease conveys - it stays with the property as an already executed contract. 

The ball's in their court - not yours.Of course, judging by the summary and their e-mail, if they do decide to stay and pay the new rent expect them to call you every month to fix every little thing. 

I was thinking 60 day option Agreement with 20% down of the purchase price...once the contract is executed I would then market the Rental for a down-payment upfront then collect rent from the tenants pay the original seller and pocket the leftovers is this the correct process?