Here is what I am looking at:Purchase Price: 150-185K Duplex with Garage.Area Rent: 1000-1200 per unitDownpayment/Closing Costs: 8-9KMortgage Payment(Includes taxes, P&I, home insurance and PMI): 900-1100 per monthInitial Repairs: 2kLeft over Cash: 7KMy thought is to purchase as an "Owner Occupied" (that's how I would get the 5% down). 

The only difference is that usually the farmer lives in the house and when they sell we take the allocation for the amount of the house and yards and the farmer gets that profit tax free from the 121 primary residence exemption.The remainder of the farm land the farmer 1031 exchanges into other investment real estate and defers all tax on the sale. 

Typically, conventional lenders will not count rental income until you have two tax returns reflecting that income.

Forget tax benefits, are we really settling for 3.5% cash returns here?

(according to property tax record)  Going up for courthouse steps auction and Hudson Marshall is the marketer.

Developers are looking at highest and best use of the land (this can vary greatly based on location, job growth, the taxes, the township, etc).

Marica I had 350 C class rentals a few years back with a good portion in hud probably 80%... co pays were always a challenge and half the time never paid.. but what are you going to do evict them and subject your unit to theft and vandilism.. almost a gurantee on vacant units .. if we nursed them along usually come tax rebate time they would catch up.. 

We got mail that San Jose city will collect biz tax for landlord who own even just one property.

A cash flowing property benefits your DTI once it's been flowing long enough to hit your tax records... so realistically, you'd likely want/need to wait a year.

That allowance is then baked into the lease because the building's owners and the tenant each get substantially greater tax benefits from working the deal that way.