If I'm wanting to lend money to someone with my private money, for them to purchase or refinance and I'd be recorded as the 1st position lender, would that money be a tax write off?

For anyone who has read my last few posts; I've been struggling with finding funding for a deal in my pipeline.It's an incredible deal: off market, with insane value-add potential, motivated sellers, under market asking price, and the ability to cashflow $2k+ after rehab.

Be aware that the lead paint laws require you to delead rental units within 90 days of closing in order to not be liabe for past tenants.

(How to deal with existing mortgage during the gifting process... prefer mortgage gets paid off, rather than become part of the gift.)Much thanks

I immediately looked at the portfolio and raised some rents I had been putting off doing which was a start in a better direction but not an actual solution.

You could ask your accountant about options for bonus depreciation or possibly updating the properties in order to receive depreciation deductions or write-offs for repairs, maintenance, etc.

This is how you get ripped off folks.

You would literally be better off selling and buying an identical home in the neighborhood raising your cost basis.

Good news is rates are starting to trend down and property values are still growing.The cash out can serve two puposes it can help pay off some high interest credit cards and be used for a down payment. 

Thanks, after research, it looks like FNMA keeps the mortgages in something called an MBS trust, then writes securities off those trusts.