Actual cost takes into account depreciation so complete destruction of a property could leave you under water in terms of the amount paid for the loss.

You can create an account to advertise yourself as a host or a guest (or both) and get matched with others.

How would this be accounted for for general accounting and taxes?  

I’ve got her dealing with 8 properties which have individual accounts.

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

Our first event may be geared toward beginners but I’d like to have discussions at all levels & all different topics.It will only be 40 minutes long max, because that’s what my Zoom account is set up for.See our announcement on Bigger Pockets here:https://www.biggerpockets.com/...I’ll be discussing some of the most common questions people have about real estate.

Provide a detailed accounting of deductions, along with the invoices, to show you’re acting in good faith.

Biggerpockets has a ton of free accountability groups which will keep you on track for your first investment and also teach you along the way! 

I understand that I need to account for taxes, insurance, and other costs—Should I go with a LML and then do a refi later on?  

She has some stock (maybe 50k), some retirement IRA of around 100k which I believe she has started to take and then maybe 20k in her savings account.