If you can show that the need for having the out of office location is for certain tasks (like the ones you mentioned), whereas your home office is necessary to complete tasks that can't be done at the rented place (say, performing work in total privacy with no distractions), then the IRS will permit you to deduct the cost renting out of home space with the deduction for your home office. 

Not unless below 50% LTV.This property/situation is not an opportunity, it's a distraction.

A common newbie mistakes is to allocate way too much time & mental energy on entities & other distractions.

33K in student loans, about 11k on plastic (wedding/honeymoon/school), plus houseMy experience in real estate is limited to spending time with my grandfather growing up.He had several rental houses and would always be working on them.As I grew up and paid more attention to the business side of his work I realized that he was working just to stay busy and not working to create more income.His end goal was always to create more income but he was always distracted by the job of remodeling and updating.He has been my mentor and main father figure for years but now it is time I “upgrade” to someone capable of guiding me in the direction I want to go.I will always love my grandfather but his business sense is not one I need to follow.My goals in real estate are to create a “four hour work week” (gotta love the Tim Ferriss way of life) by a combination of buy and hold and flips.I hope to use this method to create a stable business and then move into apartment complexes.After lurking on this site I have learned about the different rules needed to ensure profit out of each.In my farm area there are many MLS deals that fall into these numbers.Now it is just about raising funds.I would love to find some Sub2 deals.Famous FourFavorite real estate book Never read one.Bigger Pockets Favorite business book Poke the Box by Seth Godin, 4 Hour Work Week by Tim Ferriss, and No More Mondays by Dan Miller Hobbies include working on cars and spending time with friends and family.These are very important to me and I do not get enough time with my desk job with either.What is thing that sets apart successful investors from those that fail Getting back up on the horse after failing and not letting friends and family tell you that being an investor is a stupid idea.

Welcome to BP, Pete, and sorry I got distracted by the autocorrect error.  

Granted, this somewhat truncated educational path has taken slightly longer than the streamlined, 3-year degree plans my less "distracted" friends followed.

It is a distraction.

I verbally told her (while distracted on some other matter) that I did not mind as long as there was no insurance issues (meaning that she was insured and took 100% responsibility of any injury in the house as also stated in the contract).Today she called me to ask if I need to see the income of her friend (what I think is her business partner) since she will be helping her out to take care of the kids...To summarize the post... my concern is that (all that not informed directly) they are attempting to form a Daycare at the house and I informed that before they move forward with their plans.

Determine what information you want, which data fields will need to be created and populated later for your mailings.Here's my challenge for you: will you do this until you get a deal flow or will probate be another shiny object opportunity that is replaced by the next distraction?

You probably want to get there at least a half hour before the sale, because you don 't want to be a distraction during the sale.