You can pay off the senior mortgage in full (plus the other costs and fees in the judgement) if there's any equity or lose the house.  

Like @John Underwood said....you are lucky to get off this easy.

That would negate the whole due on sale clause as well as get your co-owner off the loan and into your name.

I am 42 and looking to pay it off with a 10 year mortgage.

I'm going to preface this with I'm not an accountant or certified tax-preparer but the previous advice seems slightly off (maybe based off old forms). 

I also have worked on off-market deals where my buyers had to pay my commission.

However, for a landlord who has things together, they are better off budgeting for capital expenses and maintenance and having some reserves either in the form on savings or even an open line of credit to access in case a significant issue arises.

Mostly this hasn’t been an issue, more often than not since I work 3rd shift I end up having to call my handyman about something between 6-7:30am prior to getting off work at 8:00am.

., and my cost seg firm was able to hit 30%, so I got to write off about ~300K against my W2.There will be depreciation recapture when you sell, but it is a lower tax rate (25%) than what you are at currently, I assume. 

Labor to install should be around $400 per bedroom. 5) If you are renting to college students, you might be better off waiting for pics since you will probably get more demand toward the end of spring.