Of course, that generally means nothing for the friend/investor:)A wrap on a mortgage in foreclosure is risky, and unnecessary.

The way I read that response from the CU, that's unnecessary.

Landlords are finally realizing rental rates have to go up to meet costs.I think this is only the start as there are small metro areas here that are thinking of imposing landlord fee ordinances and eliminating the vehicle tax which will further increase rents to tenants.

My question has been answered, but if I've anything else to add, I'll consider doing so here in this Tax Issues in Hard Money Lending thread:http://www.biggerpockets.com/forums/51/topics/69730-tax-issues-in-hard-money-lendingI apologize for creating an unnecessary thread.

These are for rentals, the city they are in imposes a Rental Permit Inspection Fee of $150 per house.

I think it's smart to be aggressive on the depreciation number since according to NOLO: the penalty may be imposed only if you overstated the value of your depreciable property by at least 200% over the correct amount and the overstatement resulted in an underpayment of tax of at least $5,000.So basically there is a lot of wiggle room and the IRS knows that.

i so i wouldnt bother, too much and unnecessary for re investors, we are old school pen and paper, show me the money folk.

It's reassuring to see that there are a few quebec based members because of the particularity here where the government is imposing all these restrictions on us.

I also charge my tenants a $50 service call for repairs that as long as its not due to tenant damage gets refunded to them so I don't think I would have much of an issue with regards to unnecessary repair requests. 

Since this is my first time, can you look over the attached Good Faith Estimate and see if they are charging any unnecessary items or maybe too much for certain things?