You should always require them to add you to their policy as "additional insured" or "additional interest" and you will be notified if they cancel or change their policy.

Plus, we like to make it fun so there will be 2 evening events, in addition to all the daytime sessions.

Considering that, you are likely going to see appreciation year over year, which essentially will be additional equity you'd capture just by simply living in the home. 

Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.

Additionally, FHA loans also have MI paid monthly in the mortgage payment, which is usually either 0.5% or 0.55% of the loan amount (annual basis).

How do you finance the tear down do you add it to construction?

Otherwise, you may need to replace a water service (13-15k), electrical service (10-15k) and upgrade wiring (This is a tough one, but maybe an additional 8-15k inside).

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

A local real estate lawyer or translator can ensure you fully understand the terms and conditions of the purchase.Other Costs to Consider- Closing Costs: In addition to your down payment, expect to pay an additional 8-12% of the property price for:- Notary Fees: Around 1-2% of the purchase price.- Property Transfer Tax (Grunderwerbsteuer): 3.5-6.5%, depending on the region- Land Registration Fees: Approximately 0.5-1.5%.- Realtor Fees: As mentioned, these range from 3-7% of the purchase price, plus VAT.Benefits for Service Members- Equity Building: Owning property builds equity over time, providing long-term financial security.- Strong Rental Potential: If reassigned, you can rent the property out in Germany high-demand rental market.- Tax Advantages: Germany offers tax deductions for property owners, which can help offset some costs.Key TakeawaysService members have a unique opportunity to buy property in Germany with minimal upfront costs.

We're based in Tampa and, in addition to personally investing, I own a mortgage company that provides financing for tons of investors.