So even though landlords historically didn't need to in many situations, there are lots who are now issuing 1099s to show they're operating as a business. 

I suspect for an out of country investor, the 50% rule will be slightly close on SFH in San Diego (normally I believe it is conservative).Historically San Diego has appreciated great. 

I'm sure it's entirely based on how risky the lender views the property, but as someone who isn't (yet) plugged in to as much data, it would be useful to be able to look up a rough estimate.Stephanie: Thanks for clarifying the calculation and the historical trend.

The first generally will be the ones sailing the historically calm rising tides thinking they are way more skilled than lucky. 

As of first quarter of this year, Casa Grande (Pinal County) is 7% overvalued based on historical incomes, below the state over-valuation of 12%. 2006-8 Peak-to-Current price performance is negative 15%, so the market has performed weakly in price terms.

Historically the tax courts throw out RE PRO status if someone has a 9-5 type job. 

What's the historical occupancy for that area, as well as the vacancy?

Historically it has been outstanding for long term holds.There is a poor relationship between initial cash flow and long term cash flow. 

This "economic funk" is expected to last only a couple of years versus the normal 7 to 10 years that the historical downturns have taken to reverse. 

If the tenant cranks the heat with windows open, it's on them and not you.This also works best if you have utilities set up on "equal billing" where the utility company charges you the same amount each month based on historic averages instead of charging actual use each month.