@DA Nguyen I misunderstood your initial comment - I read it as 30% of the new improvement would be rental but now I understand that 100% of the new improvement will be rental, which equates to 30% of the entire property, inclusive of the new improvement.In that case, you would be able to deduct 100% of HELOC interest on Schedule E and depreciation would be calculated with 100% of the cost of the improvement apportioned to rental basis.

Wally Amos of "Famous Amos Cookies" got hs start by handing out freshbaked cookies.

I misunderstood your initial deal structure but it looks good.

@Matt "Roar" Gardner now reading over this again, I may have misunderstood your HOA comment.

When you see these crazy amounts for the overage and basically it goes tot the taxing authority when unclaimed, it might seem or be seen as unfair to the owner who would have been entitled to it if they had known about it or be aware of how to claim.One famous recent case is Tyler v.

@Randall E Collins I think we misunderstood each other.

A lot of people getting into rentals may have a wildly misunderstood number in mind or no number at all. 

The LLC is one of the most overused and misunderstood things in real estateIt’s supposed to act as completely separate from you.

I had one famous AM radio show host..

I think you misunderstood my first post.