Legal RequirementsIndiana landlord-tenant laws are generally landlord-friendly but require you to be diligent.

If you have your properties LLCs, by law you have to have an attorney.

I am reporting every one of them now as this has gone on for years and is ridiculous that people don't know how to follow the law! 

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%.

If you are looking for a more laid back and roundtable type discussion of all things real estate, you are more than welcome to join us every Tuesday morning on Zoom or Thursday morning at Kairos Coffee where we discuss everything from assumable loans, to creative buying strategies, to landlord tenant laws and pretty much everything in between! 

There are laws (and statutes with three "T"s) that may apply in these situations on both a state and federal level.

What I share comes from my experiences in court room and mind numbing hours of study and research in a law library on contract law and interstate compact. 

Purchase price: $185,000 Cash invested: $5,000 Sale price: $220,000 Occupied by my in-laws.

Every state has different laws regarding a notice to terminate/non renewal of lease.

You didn't mention what kind of law you're practicing.