The IRS disaster assistance page and hotline are key resources for those seeking guidance.One significant benefit for those who have experienced property damage is the potential to claim a casualty loss deduction.

The withholding tax (on gross income) a problem if you:a) The wealth creation part of that real estate investing is capital appreciation, not cash flow.

To simplify the existing lease I thought about asking the tenant if they would be ok modifying the addendums to get rid of the resident benefit package and the building protection plan. 

But it can really help offset costs and pretty good return on investment at that value. 200k in philly puts you in Class C real estate at best, and you likely have to update it somehow. 

It’s stable cashflow and long term appreciation and tons of accelerated bonus depreciation on taxes. like most anything in real estate it’s a long term play. 

Hey @Joel Oh, So what the salesperson said could be accurate but for the fact that this is not for personal use.Tell me, would you want to get into a tub that had been used by 20-50 other people because they didn't change the water or do any real cleaning?

It's great if you qualify, it has many benefits.

Depending on your level or preference of analysis, data and their providers are incredibly important and difficult to obtain when it comes to real estate underwriting.

It will familiarize you with the basic terminology and benefits.

I prioritize appreciation, tax benefits (rental property expenses, depreciation), ability to use leverage, and passing on generational wealth with real estate.