Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Rental to Personal Residence after failed rehab sale: Expenses?
We converted a personal residence into a rental seven years ago, our last tenant trashed it, we rehabbed it (repairs, paint, carpet) for about $8k but failed to sell it at an acceptable price. At the time we did the rehab we had every intention of selling it, but a low appraisal killed the sale. We are seriously thinking of moving into the property as our primary residence but I was unsure how we would treat the expenses that we incurred after the tenant moved and we tried to sell it but before we considered making it our primary residence. Anyone know how these expenses would be treated?