It's usually more tailored for rental properties, covering things like loss of rental income and liability.

House #1 is rented out - tenant met all the requirements (income 3x the rent, over 600+ credit score, no evictions) when the PM screened rental applicants.

Decide if you want to focus on short-term tactics like property flipping, long-term wealth creation, or passive income generation.

Peter,That does not sound accurate based on having a Schedule E and being able to take those deductions as well as other standards.As an investor it’s not a bad thing to show more gross income which usually allows you to buy more properties with more income and a lower DTI.

Not sure if that will require a transfer tax.Insurance policy changes are used at least by banks as a source to identify change in ownership.Just a thought...not legal advise.

Hi guys, does anyone have a free excel template for income and expense? 

So, I know once I can focus on it full-time, I’ll be able to double my income from the business. 

Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.ALWAYS get an increase or something of value annually or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.

The holder of the note makes no real difference; in Jane's case, it might be more advantageous to her to hold the note than sell outright depending on how she can absorb the sale from a tax perspective; in your case you don't have enough income to do a conventional loan so getting a seller carry can give you more properties.

If you don't have patience or expertise or time I would just sell and 1031 exchange into a property that generates income, appreciates and helps build wealth.