Also, he hasn't filed the paperwork with the county as yet and says he doesn't intend to do so.

Lease agreements if the property is occupied, appraisal, 6 months reserves, minimum 640 credit score, credit lines open for at least 2 years with no bankruptcies in the last 36 months.Then there's the properties requirements which is another thing.

It was during the time when Detroit declared Bankruptcy.

Banks typically want a gift letter in your file from the giver, affirming that the funds are indeed a gift and are not a loan with the expectation of repayment.If you house hack, you're combining buying an "investment property" with the possibility of low-down-payment financing available only to owner occupants, perhaps through FHA.

This will include properties that are on a payment plan or are in bankruptcy as well.

So my question is that are there any tax break i can take when filing 2019 tax?

My attorney advised to prevent that, I should record the P&S contract in the public records, if no other sales contract are on file.

Then, when you file your taxes you can include depreciation on the property as an expense to further reduce any taxable income you might have. 

.• Each county is different but rural counties in GA are generally easy to deal with when it comes to landlord/tennant filings.

Now if you have a foreclosure or bankruptcy or something else really bad on your credit report, that would be a red flag for any lender.