I would look up the census tract to find out the income limit but if you find the right loan officer or mortgage broker in your area there are lenders out there that  have an exemption with Freddie in regards to income limits.

And most importantly, you also loose the personal capital gain tax exemption ($250K/ind) when you sell.

I might possibly transfer title to a partnership that is exempt from this 3.3% tax. 

The financial opportunities offered by the lenders and the tax exemptions available is truly phenomenal and as such a large country, the opportunities blow my mind. 

As such you would legally have to comply with securities law, be it registration or exemption from registration.Where the existing relationship comes into play is that a private offering MAY be exempt from securities registration.  

FICA taxes are based on your earned wages less any pre-tax deductions from your employer that are exempt from FICA which is generally stuff having to do with health insurance or group life insurance.

Whatever gain you make on the selling of the property will be tax exempt up to $250K individually, $500K if filing taxes jointly. 

In some states it is considered an exempt transaction and in others a transfer tax might be due.You will be required to sign loan documents personally unless you have an established LLC with a track record.

In TX, there is such a long exemption period, I'm not sure you could afford the interest for that long.

Use all income to estimate your tax liability, consider deductions and exemptions, you're estimating your net tax liability. :)Steven Hamilton II can give an indepth explanation I'm sure. :)