($390 value)”...

You still claim the income as miscellaneous income and deduct property taxes and mortgage interest (subject to SALT and other high mortgage limitations) on your Schedule A, but that's it.2. 

Also, you'll want to look at value add opportunities with utility optimization, either a reno project to pass utilities on to tenants or some kind of billing system.

I highly recommend finding a broker and have them find a policy that meets your specific requirements.

The company providing the warranty keeps most premiums as revenue and profit."

@Emily Gowen so as you pointed out you would not have to do a 1031 exchange on your current home to avoid the capital gains tax and coupled with what Dave Foster pointed out I think, speaking from experience you would have a high likelihood of success. 

Investment Criteria:• “Core” strategy – High-quality properties with minimal renovations or maintenance issues• Stable tenants & cash flow – Long-term leases, steady occupancy• Commercial preference (?)

With strong rental demand, affordability, and plenty of value-add opportunities, Birmingham is looking like a solid market for investors.

We’re focusing more on quick flips that match our strengths and allow us to continue delivering value to the community.This post is a reminder that every project teaches us something, and we’re always learning to better serve our buyers and sellers.

Purchase price: $640,000 Cash invested: $220,000 Purchase price $640,000Got it at this price because there is a non-paying tenant in unit 2 (rent value $3,500), we're in court Rehab $60,000All in cash (rehab plus down payment) $217,500Rehab included ground level basement and 2 parking spot drivewayMonthly cash flow $1,500 ARV $950,000Equity $470,000Refi cash out (August 2024) $150,000 (used to buy new rental)New monthly cash flow breaking even (non-paying tenant still in unit 2)New equity about $200,000