Seems like you are expecting some additional declines, which would be consistent with my expectations for Phoenix. 60% of $50K would be only $30K.

In addition, the property management requires that:1. the deposit be made in money-order or cashier's check (ie, no personal checks accepted)2. the rental agreement be executed near the official move-in date (ie, about 2-3 days prior)Are the two requirements above legitimate?

In addition, I spent many years in management at some of the biggest technology companies in the world, and of the dozens of people I knew with a net worth between 8-10 figures (and including two with 11 figures), most held very liberal social attitudes.

In addition, your value is only on paper and not realized unless you sell it; I have not yet found a bank that will give me a LOC out of my foreign real estate equity.

Once the investor has the property it is their choice whether to add it to their portfolio as a rental unit or try to flip the property for a profit.Hope that helped.

After you have lived there for 2 years, you could keep the property as a rental up to 3 additional years and not pay capital gains tax if you decided to sell it.Keep in mind that if this is your first house, you are likely not going to live there forever.

Additionally, unless you have a good bit of REI experience (you don't), lenders aren't going to just hand you a line of credit to "give it a try

Of course, we disclose on the form that we understand additional items may occur due to unforeseen problems such as rotten wood, etc.

In addition, rental properties get a depreciation deduction.

That's the way the IRS will treat it, any, as an addition to your basis rather than an expense.