On top of that, any depreciation you take has to be recaptured when you sell and taxed at 25%. 

At the top of the food chain is your Fannie/Freddie product which basically has the highest standards, but the lowest costs and rates. 

The RMLO will provide you an underwriting  package with the following items: STATEMENT OF COMPLIANCE QUALIFIED MORTGAGE REPORT CREDIT REPORT PROOF OF INCOME REQUIRED LOAN DISCLOSURES SUPPORTING UNDERWRITING DOCUMENTS CLOSING DISCLOSUREThis underwriting package will also help you sell your note for top dollar if you ever choose to shop it!

If the numbers are right, and you've enough resources to buy it, then just rent it out to your friend as a tenant (though I would not rent to family or friends)

I am eager to learn from anyone willing to teach  & share whatever knowledge and resources I have.

They have other things to consider than getting top dollar. 

On top of that, you will not be faced with underwriters giving you 1/3 of the income but hitting you with the full liability. 

My time is very limited with my full-time job, and feel it might be best if I have all the information in one place and a resource along the way. 

.- if you click on education (at the very top of the screen) that is the doorway to never ending info to get you heading in the right direction, to achieve your goals. set small goals for your self and hold yourself to it!

I decided on Charlotte after conducting a ton of research on the top markets in the US, and taking a variety of factors into consideration:Home ValuesAverage Rent / Income ratiosUnemployment RatesCrimePopulationEconomic GrowthNet Migrationand most importantly, where we'll be happyI started out with Bigger Pockets own excellent 2017 Market Analysis, and added my own numbers to help me give more weight to the factors I felt were most important.