I want to find out more about deducting expenses that were necessary.

it is deductible and some smaller expenses are just not worth losing a tenant over. 

Fannie and Freddie buy groups of mortgages from banks and originators all over the country.Aug 9, 2015Banks or other lending institutions ORIGINATE loans, which in the large part are "formula" loans with standard terms and conditions. 

The issue is you do not have "marketable title." so you cannot sell the property through a standard closing.  

From quick calculations in the South Houston area and other standard numbers (8% vacancy, 4.5 interest and 25% down, 10% maint), I'm guessing you should be cash flowing at 300 per month as long as you do your own property management and control maintenance costs. 

Not most of them, as they simply raise the cost basis of your "inventory" and get deducted when you sell.  

You probably already know how to find deals and rehab them at least to rental standards.  

All you need is a standard real estate contract of sale agreement which both parties will get.

It's still a goal of mine to pursue a real estate license, and CE and maintenance are also tax deductible in REI.

That means that even though cashflow-wise, I am in the same position as I would have been by renting, I have increased equity in the property (net worth) of $7,500.(2) Unlike rent, everything else I pay for is a tax deduction with the exception of the portion of some expenses attributable to my personal use of the property (the 12.5% of the property I use myself) rather than my business use of the property (the 87.5% of the property that I rent out to others).