I must point out that this was a VA loan and I am and eligible VA loan applicant.

I don't plan on doing more single-family so that's just fine with me as it isn't really prefab's best application.

Checking applicants and tenants Facebook is just part of our operating process now.

If a brain surgeon were to treat me for the flu I don't really think it's ethical to charge me his rate for brain surgery, his additional skills were not applicable to his services.

Martin Yes, I have always lived by the rule that if you have a ton of qualified and willing applicants your rental is probably priced too low.

If it was not it is a short term capital gain.Long term capital gain rates, 0,15, 20%Short Term capital gain rates: Ordinary rate.Your examples are only differentiating between the Net Investment Income Tax and your regular tax rates (capital gain AND ordinary income rates).Sale of a residence first goes against the exclusion if applicable and then it is treated as capital gains.

Even then, I would say before running out and trying this type of revenue generation, you need to write a couple hundred loans and gain exposure to all the different workings of application, loan placement, loan processing, conditional commitment, commitment, underwriting, regulations and secondary market operations.  

Make sure you get a solid demo estimate( EPA compliant if applicable).

Given the drama you seem to have tangled yourself up with, I would give proper notice that you are not renewing their lease at end of lease term, then let them know once they've figured out their situation, the party wanting to stay can submit the proper application for the next year.   

Hey all,Im in the process of building an online property management application and would like to know if there are any issues you are having with any software you are using.