This is a single floor unit that includes 2 bedrooms, 2 full baths, washer, dryer, dishwasher, refrigerator, stove, garbage disposal and 2 car tandem garage.

What would you do if you had:$1,500 in monthly disposable income.$50k spread over three 401k accounts.Excellent credit.FHA loan on your primary (and only) house in Washington DC, with $200k in equity.The goal is to generate an additional $1,500 post-tax income by the end of 6 months.Thanks so much for playing!

That allows you to lower your obligation and have more disposable income.

Two questions:Do I file a form 4797 for disposing of this business asset?

What I've bought out of state has been fairly new construction and while there is maintenance (garbage disposals, hot water heaters, etc.) that's a far cry away from demoing walls.  

Ideally I  want to be able to have more money at my disposal if needed.Thank you for your feedback.  

All said and done I will be saving the seller well over $10,000 in the disposing of her asset, and I will be getting the buyer into a home (they already live in) for a price that makes sense for them, and slightly below market value.

Might as well chase the waste disposal fee while your at it.

So, if my passive activity losses are greater than my passive income (and they will be due to depreciation), I have to carryover any and all loss until I dispose of the property, which could be a very long time since I plan to buy and hold.But, here's the interesting thing -- for the HELOC on my primary residence used to help purchase the property -- the interest paid on the HELOC IS deductible against W-2 income, even if used that on for an investment property, and regardless of passive activity loss rules.

I went to Carnegie Mellon in Pittsburgh for school - my undergrad education is in Architecture so I have all the tools at my disposal to design value-add spaces and as a bonus I'm pretty good at coloring in between the lines.