Just in this area the 40-50 year old houses that are remodeled sell at $2M+, These areas are highly desirable with no new quality homes.

Special Deductions for Real Estate ProfessionalsReal estate professionals are people involved in many aspects of the rental property business, including buying and selling, owning, renting and leasing, remodeling, constructing and managing the rental.If you're an average taxpayer and you happen to own rental property, you can deduct losses on that property only up to a certain limit because your ownership is considered to be a passive activity.

Okay folks,Finishing up remodeling a property to keep as a rental.

Those that are remodeled are selling are going for 415,000-435,000. but I wanted to analyze with a lower number to be safe.

The problem with holding it as a longer-term rental is that -- after a full remodel -- it's unlikely I'll be able to refinance out 100% of my investment, so while I'm holding it as a rental, I have some cash invested.

Technically, I could expense the unclogging of the drain line while capitalizing the kitchen remodel.

In my most recent remodel I used:- off-white for bathroom- different off-white for ceiling- white trim- soft yellow/tan for master bedroom- gray for bedroom- lighter gray for darker middle bedroom- gray/green for living room, kitchen and hallwayThe net effect is that the house "pops."

I spent 6 weeks renovating the house and it cleaned up real nicely: new roof, new flooring, cleaned carpets, complete remodel of bathroom-saved the old tub, freshened up the kitchen, paint, etc...

I also do small remodels of bathrooms and kitchens.I am trying to get advice from some of the Property Managers and large scale investors on this site to see what skills you would like your maintenance person or handyman to have.I am a landlord myself so I know how important property maintenance is and how hard it can be to find someone reliable, licensed and insured.Thanks!!

I'm fairly new to the real estate industry although I've been the design build remodel industry for 11 years.