In case of residential real estate, it is 27.5 years.While this is not intuitive, the 27.5 years starts at your purchase - has nothing to do with the age of the property, and is based on the depreciating portion of the purchase price, which excludes the land.

However I have lived here all my life excluding college years.

However, that seems to exclude reinvesting in your business, which I know Kiyosaki is in favor of.So my question, for those of you that have made this transition, is did you target your monthly expenses as your transition point?

First, even for those costs, excluding operating losses, 50% is a toss-up - many buildings fall short indeed.

Yes, if that's your Cost Basis including closing costs excluding any pre paid interest/points, not what it's actually worth.

So excluding the equipment I figure each movie night will run me about $200 total plus a few hours of my time.

We specifically exclude investor-owned units in our community.  

Excluding your taxes and insurance, there are two things that determine your monthly payment for a given dollar amount borrowed:  Interest rate and length of time to repay the loan.In your current situation, assuming that your interest rate does not change at all, you are simply stretching out the mortgage payments for a new 30 year term.  

That's nothing but trouble for you and the tenant.If the garage is unsafe, it should be explicitly excluded from ANY use by the tenant in the lease. 

And these additional items ________________________________________________________Items specifically excluded from15.Default and Attorney's Fees:If Buyer defaults on this agreement, all deposits will be retained by the Seller as full settlement of any claim, where upon Buyer and Seller will be relieved of all obligations under this agreement.