Suppose you purchase a $300,000 condominium for your personal residence putting down 3% and borrowing the balance at a rate of 3.5% for 30 years. If you move in on July 1 of 2021, approximately how much of a tax deduction can you take for the tax year 2021 assuming you itemize your deductions and are not subject to any SALT limits? How does this change the after-tax cost of your mortgage? Show all calculations.

Consider a 4-unit residential property for sale for $1.2 million in which all units rent for $2,500 per month.    If vacancy and collection losses are 5% of GPI and operating expenses are 40% of EGI, what is the annual NOI?    If you finance the property with a 75% LTV mortgage at a rate of 4.00% fully amortized over 30 years and assign $375k of the purchase price to the underlying land, what will be your taxable income during the first full year of ownership?   Assume the property is placed in service on Jan 1 and your make 12 monthly mortgage payments during that year.   Show all calculations.