Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

While we don’t have state income tax here we do have the hurricane tax that comes with high insurance premiums and little real insurance benefits/help when it’s needed.

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

Are you able to use it easily, only with a HELOC.If you lose your tax deductions, then Uncle Sam is happy to take more of your money each year.Good Investing...

My monthly payments (mortgage, insurance, taxes) are roughly $3,600, leaving me netting about $4,600/month.I have four years left until military retirement, after which I’ll have a pension, some disability income, and rental income from this property.

That had even a passing resemblance to tax returns or financial statements4.

To navigate the nuance in the laws properly for compliance and to accurately structure our LLC, I am looking to consult with an attorney who knows immigration + business + tax laws. 

Dan, If I can help with a consultation for the Sedona property, just holler.

There could be local considerations that are tax and inheritance related.Thanks for the reply Ken.

He was a good guy” and his information  on buying at tax or foreclosure sales was realistic and doable.