It's a good idea to talk to a tax advisor to fully grasp the tax advantages and implications of each choice depending on your unique financial circumstances.Good luck!

Of our 50 plus loans about 10 went into default in the financial crisis of 2008.  

Gordon Ramsey has had a restaurant for sale and it was taken over by professional squatters (didn't know that was a job title :-)They planned to give away free food and open an art gallery there and are threatening to prosecute anyone entering without their permission.

What are vacancy rates in your market and does the current tenant plan to re-up for another year?

I just graduated with a degree in Cell & Molecular Biology and my plan has been to go to Medical School to become a doctor.

I plan to short term it when I'm not living in it so I designed it with an additional vertical guest bed to the right of the living room and with extra dresser space in the bedroom in case of long term tenants.

I plan on buying, rehabbing, and living in the home for at least 2 yrs.

Are you planning to resell? 

The wife does not work so the financial responsibility would fall to the husband.  

I just went to the final Comment Open House and it looks like the final plan will go to City Council for vote around November and be effective in Q2 or Q3 of next year.Feel free to PM me if you want to chat more about your situation.Cheers!