Quote from @Jason Hathaway: I'm in the process of purchasing another home adding to my portfolio.

There may have been better choices for a rental at the time.  

Purchase price: $75,000 Cash invested: $600,000 Sale price: $269,000This is my largest new build development to date.

It’s never as simple as it first appears, which is why we always advise our clients to let the math guide the choice.

Otherwise the hold up of the sale and going back-and-forth we wanted to avoid.Because it’s now on the closing statement, are these a deductible repair expense like it would have been had it been before closing that would normally just be under schedule E as a repair expense.Cheers.Since the seller credit is now part of the closing statement, it’s generally treated as an adjustment to the purchase price rather than a direct repair expense.

Assuming you purchased in your IRA for cash as most do, then there's nothing to deduct or depreciate because the income is non-taxable inside the IRA already.

I also have virtual cards that I assign for specific purchases, that way I know when that card is used what property and expense type to allocate it to.

So the choice of tenant would be key.On the flip side, reasons to hold: a very low mortgage rate; probably not the case. 

Hi Ella, welcome aboard,Your post about your real estate ambitions, encompassing the purchase, renovation, and sale of properties, as well as the ownership of Airbnb rentals, is indeed an exciting endeavor.

Hey @Brett Baker, generally, any place with a great water view or directly on the water will bring more revenue.Of course profitability will all be based on purchase price and prevailing nightly rates in the area.If you find a cool 2/2 or 3/2 right on the water with a great view for 1.5m or a 2/2 or 3/2 house a block away for 600k, then I would look at the house over the condo.