That was all fine.Now apartments.com emailed us "The IRS lowered the threshold for 1099-K reporting.

Generally speaking, you are correct: conventional loans have more red tape behind them - bank statements, credit reports, appraisals, etc.

I am very reluctant in falsifying her rent by $375 a month, especially implications with the IRS because then it would appear I was understating my rental yearly amount reported to them.

BTW this will be our first investment property and below I attached quick report I just did.   

I really appreciate the help.View report*This link comes directly from our calculators, based on information input by the member who posted.

@Dylan Favazza  No you don't put vacancy in as an expense because it is lost income you won't report on your taxes, putting it in as an expense for tax purposes means you are charging it against rent you don't collect.  

I'd like to sell each home and repeat the process as quickly as the law allows.Is two years defined as:  reported on two tax returns, or 24 months?

View report*This link comes directly from our calculators, based on information input by the member who posted.

Agents also have the ability to run reports regarding average days on market for rentals, which will identify strong rental markets.* Drive through these markets yourself.

Pretty bullish sentiments reported on the Texidus and all things Elon relocating here..by Californians.