Plus, you will be spending at least a couple hundred dollars per year in having a CPA generate and file a separate tax return.Really, I would talk to a real estate attorney and let them know what you are trying to achieve. 

They would have to transfer that loan on their own balance sheets to a non-performing asset.  

I you pay $150K and the ARV is $240K then those margins are more achievable but those properties also would be too high priced to make a good rental in many markets.

Remember conventional all go through the same underwriting and end up on the same balance sheet (one of the governments secured entities) no mat who the originator is.

Get a couple of credit cards now, and manage them wisely forever (keep your balances below 30%, pay on time every time, and never put anything on the card you couldn't pay cash for).

For some context, here's a quick overview of the situation:Bought the house in April 2019 for $245,000Me and my wife are both on the loan & titleLooking to buy a new house in June/July 2020Loan balance will be between $230,000 and $235,000 in June/July 2020Zestimate on the property is $258,000Based on the information, I have some questions about how we can proceed:If I remove myself from the loan & title, would I be eligible to use an FHA loan to buy another house?

I seem to have a different balance than you do.

Buy in the path of progress.Taxes are high, but compared to the rent in CA, I think things balance out.Typically rent is better here vs purchase price in CA and West Coast, so easier and less capital to get started.So I like to tell investors...draw a big circle around DFW...and look at the cities on the outside of the circle....places like Burleson and Crowley on the south side. of Ft.

We’ve began instituting a small bonus of 5% of total labor cost if contractor finishes on time, as well as a fee per day deducted from the final balance owed, for every day it goes over schedule.

Currently information gathering and looking forward to making meaningful connections here on this forum to achieve my goals while contributing to the success of others.