$15000 / 3br - 1364ft2 - Investor Special 1540 SE 178 Ln 34491Ok, so heres the deal.$15k "subject to" the existing mortgage. 

https://www.irs.gov/businesses/small-businesses-se...I also dont own a corporation for Real Estate, nor am I a licensed professional.

I am not a business person per se.

blabla re expenses vs increase of basis there after.tnx, curt i agree with you on basis thats how i would think it works  but not a CpA or expert all the props I have taken back in foreclosure and its more than a few.. thats how we came up with our basis when we finally resold. keep in mind we did not keep them for rentals as we are not in the rental bizz per se.. so if you keep them I guess you need to figure out basis to establish how much your deprecation is going to be.

If you haven't already, get a lawyer as it is generally a bad idea to be a pro-se litigant. 

Hi Emilio,I have connections to a few builders in SE michigan...Where is your land?

I think there is truth in making sure your kids education is top priority but I’m not sure that means Naperville per se.

How do you se the "rented" rooms?

Pro se or attorney filed, it's all the same. 

I'd definitely prefer to not be subject to SE tax if possible but wanted to make sure I do it right since this is my first return with STRs.