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Mobile Homes with repairs-Expenses/Tax question
Hey Everyone, If you caught my last thread you will know I bought a couple mobile homes to be used as rentals. Both of these mobile homes need repairs, flooring, cabinets, sheetrock, windows, siding, etc. Once fixed they will be rented out. I am putting everything on a spreadsheet and was thinking about how they would effect the rental income as expenses or do they get added to a basis instead. Not sure if this would be the correct forum for this question but thought I would ask. Also what do you used to manage all of the expenses and income. I am trying to plan ahead of tax season. Figured most of you might know since you have mobiles as well.
Thanks