Inspection Costs - $400 Lender Fees - $1,000 Closing Costs - $2,000 Mortgage Payments - $2,500 Property Taxes - $600 Utilities - $1,000 Insurance - $200 Commissions - $4,000 Selling Closing Costs - $4,000 Home Warranty - $500 Termite Letter - $100 MLS Fees - $100 

Texas property tax sales.  

There are recent changes in how they are being taxed in Illinois.

That was the sales pitch that looked attracted to me and here I am 3 months after closing and no tenant, even the numbers looked good, my ROI was going to be decent, but looking at the new tax assessment next year my numbers are going to change a lot, leaving with very little cash flow.

This is also tax deductible.

The income (rent minus management) should cover the costs (principle, interest, taxes, and insurance) depending on the property's price point. 

Operating Expenses includes taxes, vacancy, utilities, insurance, maintenance, and management fee.

This log will be invaluable in case of an audit.3.Grouping PropertiesWhile I’m not an expert in international tax law, my understanding is that you can group all your properties together for material participation purposes.

I guess my question is more of a tax question, it’s a no brainer to wait to rent it out to do a remodel so I can claim depreciation on the remodel correct ? 

@Rahul Prabhakar Taxes in Texas are out of control.