McElhannon: Wouldn't all the other 17 years of expenses (taxes, maintenance, fees, etc)  also be deducted from the price and not just depreciation? 

By forming a property management company, you could deduct business expenses like office supplies, software, and possibly a home office, which you wouldn’t otherwise be able to claim.

Hey @Ujwal Kolli,When you do a cash-out refinance on one rental property to pay off the mortgage on another, the interest tracing rules generally allow the interest to be deductible if the loan proceeds are used for business purposes, like paying off another rental.

I bought quite a few SFRs in Madison MS that all qualified and I promptly got audited. and of course my CPA could easily prove I was full time and qualified for the deduction.

If the carpet is damaged beyond ordinary wear-and-tear, then you deduct from the deposit and charge anything remaining.

If you sell houses to buy a primary residence you will pay tax on the profit, PLUS recapture the depreciation deductions you will be taking on your taxes each year.

I receive rents totaling $1817 per month, after property management fees of 8% are deducted.

You can deduct expenses like mortgage interest, property taxes, insurance, and repairs, as well as depreciation on the building (but not the land), which helps reduce your taxable rental income.If you refinance, any interest paid on the new loan would also be deductible.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

Is the mortgage interest tax deductible in the same way as a traditional?