I have have rented my house out for 4 months now, and my mortgage is $1550 a month, the renter is paying $1750 (1750x4) Is my profit 7,000 or is it the $1750 - $1550 = $200 so the $200 x 4 = $800. So is my rental profit for the property $800 for 2016? or is it the combined total that my renter has paid me for the 4 months he has been at the property?
