Or (thinking more about what lucifer was saying) do I claim that I make $900 more in income and write off the mortgage? Does this make any sense?

Thank you for the responses but I want to make sure I understand.

If I buy a condo and the total mortgage and fees = $850 and the renter is paying $900.

Now, my salary hasn’t increased and the condo was all I could afford according to the bank, what are my options of getting IP #2? Do I need to save another 5%-20% for the next property off of…[Read more]

After reading my first post I don’t think I made a ton of sense. Here’s another go at it.

How do I buy another property with my first property just paying for itself? How do I convince the bank that I can afford to get another IP?