I'm currently in college and have around 400k to 500k in cash but no income.

The holding company can then distribute income to the trust beneficiaries or reinvest it in other assets.

Who's going to claim the 1098 interest from the mortgage on their income taxes?

The house looked in good condition and I knew this area is up in coming and I will be able to take advantage of the new ARV.

It is his primary source of income (held in an LLC) but is paid off and he's considering selling or pulling money out for a down payment towards a new primary purchase.

or am i missing something else here.The rental income will be in like 2900/month so not badHere is the inspection report with red flags all other stuff are just minor.

But the IRS considers that they've made $1.1m of taxable income.   

It I were the lender I might keep the duplex and operate it as an income property.

This second property also produced an income equal to a months rental.So it depends on the ARV, the rent/building value ratio, down payments and how much the mortgage are.

Right now we have 2 units that are vacant, ready, and being marketed, and with the 'asking rent' reductions we just did to try to fill them faster (it's offseason for leasing), the estimated market value of the building based on net operating income is now $1,542,500.