Foreign nationals can have all sorts of bank accounts in the USA using a federal tax number that they can get at any bank.And no, there is no way for your overseas clients to get a social seciurity number without first becoming a legal resident.

If this is your primary residence I would strongly consider paying it off.

BostonHome,As a former Boston resident, I know your pain.

You could even ask that the residents sign the notice at move in and explain it to them at move in.

I've been looking all around here for both flip and rental opportunities, but I'm not rushing since it's going to be my first deal (outside of purchasing my primary residence).

Is there any exception to recapture of depreciation if you convert your 1031 to a personal residency and later sell it?

So if I fail to rent it - is there any way to convert it into a primary residence later?

I am especially interested in non-resident rules.

I grew up on LI and now reside and work in Manhattan.

I’m interested in what others have done in regards to extracting equity from a primary residence to fund the purchase of an income property without going cash broke.