Lesson two: The Polytech area has a lot of potential but requires careful planning for the scope of work.

Lesson two: The Polytech area has a lot of potential but requires careful planning for the scope of work.

If you put down an earnest deposit, you might lose out on that if you decide to back out(potentially). look at the agreement.The more important thing is, do you quality for conventional financing?

Has potential buyers shaky.

If you pay two years' worth of property taxes in 2025 (January and December), both payments are deductible on your 2025 return, potentially reducing your taxable rental income significantly.

They have HUGE benefits and small potential drawbacks.

It checks all my boxes for potential.

For higher-value or complex properties, a professional study's potential tax savings can outweigh its cost.

It’s easy access to the other neighborhoods   Lots of potential development space for bars and restaurants   Lake effect brewing is dumping money into a brew pub.  

An LLC is potentially one minor factor that might contribute to the evidence that you are running your rental activity as a trade or business, but it's definitely not required that you have an LLC to qualify.