Inside needs to have paint and general small updates that will push rents upto the market but not improve equity.Likely will entail turning the entire building over in the next 6 Months.numbers below are for renting it out from day one (likely would collect 900 less as an occupant) Total monthly income Price $ 250,000.00 Category Actual Benchmark Meets?

Taught us a lot about rehabbing and what it entails.

The other poster asserts that they are not subject to the limitations under IRC Sec 280A, and cites Gorod. 

Ok...care to provide reasoning for your assertion?

I am currently employed as a salaried financial advisor at a large company, but like many others in the corporate world, I am increasingly attracted to the idea of leaving the cubicle lifestyle, getting into the world of real estate, and achieving the American Dream, which to me entails traveling the world while I generate passive income from my rental properties.  

Could you provide a clearer definition of what that entails?

You could play the legal card and try to avoid this, but that may entail problems.  

In case anyone was interested, i found a template for Excel here  http://download.cnet.com/Amortization-Schedule-for...and for numbers here https://jmoore.me/2013/10/31/a-loan-amortization-w...I ran across a couple of programs for around $100-150, not sure what they entail but the free ones seem to work out great so far

Use an architect or someone to completely spec out what the rehab entails, down to the part numbers, with cost estimates.

I consistently disagree with John's assertions that it does not make sense to hold rental property in an IRA.