@Jon Holdman @Robert Leonard @David C.

Originally posted by Rachel Leonard: @James Park.

Hi everyone,New to biggerpockets (found through Danny Johnson from flippingjunkie).

Thank you Danny, ill try 6 weeks...lets see what happens.Ill keep everyone interested posted.Leo

My name is Patrick Leonard and I am from central Massachusetts.

BP's Danny Johnson has a great form for this:http://www.flippingjunkie.com/media/House-Inspection-Checklist.pdfI'd recommend using it to make sure you don't overlook anything.

Hi my name is Danny and my wife is Susan and we are sending out our business card to let companies know that we do Remodel and repair and make ready and we are license and insure and we have excellent references and over 25 years in the business.

Danny Shore,Typically they are amortized over the course of the loan. 27.5 years for residential39 years for commercial.You will add it to the cost basis of the property.As Cody L. said look at IRS Publication 527:http://www.irs.gov/publications/p527/ch02.html Also, I hope this link still works it is a cheat sheet for cost basis.http://i1087.photobucket.com/albums/j466/StevenHamilton99/Homebasis.jpgSome Depreciation reminders:http://www.biggerpockets.com/files/user/StevenHamilton/file/residential-depreciation-chartDoes it increase the value of the home?.

Nice post and I'm going to check out that podcast.Thanks, Danny

I followed the teachings from Danny Johnson over at FlippingJunkie.com.