I THINK you could probably just expense your deductible if insurance didn’t cover 100%.

Increase your earnings, reduce expenses, save up, and invest.

Now the situation has occurred that we need to rent the house out in order to help pay for his long term care expenses. 

Manufacturing has gone overseas reducing wages. 4.  

Cost of construction is expensive and about to get worse.

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

On the lease, he'll pay me $100/m over my HELOC payment and all other expenses, including the refi cost, inspections, title work, etc... 

I’m pleased with stessa for expense tracking and more recently rent collection.  

If we do cost segregation how much would we reduce our taxes by?

@Vidit Maini Starting your business as an LLC taxed as a C corporation offers flexibility but involves double taxation unless you elect S corp status, allowing profits to pass through to your personal return.For tax savings, deduct startup costs, track business mileage or vehicle expenses, and consider a home office deduction.