However, if you put it as a primary residence house, the only liability you will be counted towards is the monthly mortgage payment of the house and removing your rent expenses (since you moved out).

Are mortgage points paid on a rental property deductible the year the property was purchased, or do they have to be depreciated over the life of the loan?

. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.After all that I'm in a range of breaking even or making $200 a month with this as a rental.

The mortgage is assumable upon their demise (and at a rate lower than those currently being offered). 

:-) I've posted a similar post on a different forum (probably the wrong one) and haven't gotten any feedback so I'm hoping second time is the charm.I'm a CPA in the State of Maine with 12+ years in public and private accounting sectors.

With the new guidelines that came out with Fannie Mae back in November, you can now put 5% down on up to a 4-unit property with conventional mortgages. 

I want to do it with others too, whether with private investors, silent partners, or equity partners. 

Helped us pay off the mortgage, now we are paid to live here after paying all expenses like taxes, insurance, utilities,  internet,  etc👍 

I often joke that if they want a 1/3 of the revenue they should put up a 1/3 of the down payment and co-sign for the mortgage..lol Also depending on the geographical region, there's a chance the larger PM operations could be managing several properties in your area.

If you're looking to leverage a mortgage, plan on a 25% down payment for a condo/townhome... the vast majority here are non-warrantable.