Still each house is an individual transaction.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

The highest values are going to be found in having these units all broken up so they can sell individually - exit plan.

., COGS LABOR and COGS MATERIALS) and post individual journal entries to assign each transaction a Class (which is a lot of work), I will lose all the detail I’ve been accumulating in Inventory up until the sale. 

So keeping rents artifically low not only harms the individual renter, but also society as a whole.

PS when you go into the health department ( or whoever controls on site sewage) you may find out also that your individual systems and tanks are fine.. but you want to know for sure before you spend any money.

You can find loans anywhere between 0-5% down depending on your individual circumstances. 4) I am unfamiliar with jacksonville laws and regulations, but in general, a property with unused space is ideal for these conversions.

In my firm, we underwrite the Sponsor as a company in addition to their individual offerings.

As a young individual with more time than money, I think its a great option.

Fundamentally the point I was trying to get across in my original post wasn’t about my due diligence, its that the cost of known and unknown repairs when you first acquire a REI is way higher than people seem to anticipate.The way my tax person explained it is the 25K limit you’re talking about is the limit to losses you can claim per property per year, I haven’t hit that for any property individually so it works out.