Great question Luke, As a lender we use your personal income and the income from your properties to qualify you for the mortgage. 

Your taxable gain (based on income) would be $68,500 at averaged (13%) = $8,905I'm not a CPA, but this is a rough understanding of your position - hoping someone destroys this breakdown. 

A DSCR loan (Debt Service Coverage Ratio) type loan would look at the rental income and expenses and determine the amount it could lend based on that.

Just a little background, we are big on long term and big on passive income.

Lower-income residents bear the brunt, with vacancies for apartments under $1,100 dropping below 0.4%.

You'll need to fill out Schedule B and also the interest income section of your tax return (usually Form 1040). 

It's a false sense of security because if the right attorney came along, not only would your insurance be maxed out, but they could still take property and/or income.

Since its a legit business, this will simply be a labor expense and expenses reduce your AGI(adjusted gross income) which lowers your tax liability.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

AGAIN FOR ALL OF THE SMARTIES....I AM WELL AWARE THAT A LANDLORD CANNOT DENY A TENANT BASED ON MARITAL STATUS AND should HAVE NO CARE IF TENANT IS MARRIED OR NOT.....HOWEVER I AM INTERESTED IN KNOWING WHAT FINANCIAL OBLIGATIONS COULD ARISE FROM THE DIVORCE PROCEEDINGS AND IF THOSE OBLIGATIONS WOULD AFFECT PT'S ABILITY TO PAY RENT BASED ON PROSPECTIVE TENANTS CURRENT INCOME.