I have a hard time imagining that I would not meet the qualification of "Material Participation in Real Estate" as a real estate professional, which would allow me to apply the bonus deprecation toward my earned income as a real estate professional.

@Kristi Kandel I don’t know a lot about roads or to what level you would have to build it to just make it a driveway but I just used ledge pack gravel in an 8 car parking lot and driveway that all in would have been at least 120’ long and in about 60’ two car widths wide and with delivery, cost of the gravel, and cost for the bobcat to spread the materials and pack them down it was all in about $1000.

In most seller financing deals, the buyer takes ownership of the property immediately upon closing, but the seller retains a lien on the property until the loan is fully paid off.

The net worth impact from a rental is calculated by taking the value of the underlying asset (a home worth, say, $500,000) and subtracting the liabilities held against the asset (ignoring retained earnings).

)  - 60K in cash for downpayment +more for renovations- Strong local connections with contractors of all trades - Ability to get building materials at cost through family/business connections- Have a strong eye for style and design (Tends to lean on the high end of things as that is my business)  - 750+ Credit.

If the copper makes you feel better then use it, plumbers in my area pipe their own houses in pex and only care for copper because they make more on material upcharge and labor to install.As a side note- acidic water breaks down copper, which ingesting can cause health issues, and can cause pinholes in copper piping.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Labor, materials, insurance, interest, local property taxes - yes.

I wanted to put the property into an LLC or Corp to limit liabilities once converted into a short term rental and wanted to retain to retain the 121 exclusion benefit. there is probably $350k+ of potential capital gains on the property. 

Upon expiration of the 3-year period, you must provide a new Form W-8ECI.If you do not file a form W-8ECI with your property manager, your property manager is REQUIRED by law to withhold 30% of your income from the rental and forward the funds to the IRS.Legal Disclaimer: The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter.