I am not a real estate or tax professional so maybe I am missing something here but my mortgage including HOA fees is about $2250 not including insurance.. I am projecting to only collect $2200/month leaving me with a $50 loss every month.. however as I understand it, this $2200/month or $26400 for the year is considered income and the previously mentioned expenses will be deducted from this number to come up with my taxable liability as it pertains to the rental property. My problem is that this is additional "income" for which I will need to pay taxes on whereas in the past while I lived in the unit, I was able to avoid it. I was wondering if there were any ways to avoid this but it doesn't seem like there is unless the expenses do in fact exceed the rent collected
