Well, @Eric Schwake, other than the tax advantages for rentals, collecting a mortgage payment from a borrower is like having a tenant who pays you monthly, doesn't ask to have anything repaired, does not move out and require you to turn over the property,  and keeps really good care of the home (mostly).

I assume local banks/lenders would go to 75% but I may not get as attractive of an interest rate.

We are extra careful in our screening process for this reason.

As long as you are not lying about the income, the IRS won't care that it is not a regular monthly amount.

As soon as I get the paint taken care of, the wood floors are going to need refinishing.

Really you need to make sure you have bills in your name and postage sent to that house and there is not much a lender will do to argue where you live if they ever were to care.

Just be careful that it could subject you to an additional income tax return in each of those states as well if you decide to do that.

@Mike Loy, As a realtor you qualify for a Solo 401k, which has many advantages over self-directed IRA, here are few:Contribute 10X more than into an IRA (up to $61,000 per year per participant)Access up to $50,000 from your retirement account tax-free and penalties-free at any time prior to retirement via participant loan featureExempt from UDFI tax on leveraged real estateInvest tax-free using Roth 401k sub-accountCheckbook control without use of an LLC Custodian is not required = no custodian, transaction or asset based feesYou can read it in more details here:https://www.biggerpockets.com/blogs/2810/21298-sol...The bottom line is that if you qualify for Solo 401k - it would be way better than an IRA.

I've had prospective tenants deterred by that, but many don't care that much and are willing to manage.

The loan would be in the name of an LLC (an eligible passive company).