According to my research a capital asset is:The IRS indicates what constitutes a real property capital improvement as follows:Fixing a defect or design flawCreating an addition, physical enlargement or expansionCreating an increase in capacity, productivity or efficiencyRebuilding property after the end of its economic useful lifeReplacing a major component or structural part of the propertyAdapting property to a new or different useA repair is as follows:Improvements that "keep" property in efficient operating conditionRestores the property to its previous conditionProtects the underlying property through routine maintenanceIncidental Repair to propertyReference is http://www.dbbllc.com/newsletters/focus/mar2012/irs-clarifies-capital-improvement-vs-repair-expenseNext time I will rent a small excavator, dig my own hole, and put on a Fernco.

And you'll have new cracks in unexpected places, old cracks that will not close, but instead enlarge.

Another option is to go the more traditional route using a real estate agent and searching for a fixer upper with upside pore too that is in good enough condition to qualify for traditional financing.

You should be allowed to replace "in kind" vs enlarging the openings but Florida has some crazy codes as well based on my past projects here.  

City code usually requires you have adequate parking for the property, you may be required to enlarge parking area to improve off street parking, one space per unit is usually required.

Know what you are getting yourself into, what is included, warranty information, ect.Many new buyers are also unaware that there can be school zoning changes with new constructed subdivisions, several in fact as the surrounding community enlarges.

ALSO: Click on the images to enlarge them on a new tab):So far, the data does seem favorable to the I-75N corridor.2.

So we pore through catalogs and look at showrooms. 

It does not include enlargement or new construction.Generally, the percentage of costs you can take as a credit is:10% for buildings placed in service before 193620% for certified historic structures" http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Rehabilitation-Tax-Credit-Real-Estate-Tax-Tips

Vlad- welcome to a JScott type discussion.     The thread remains "quit blaming Bush"  and the 2 points in inititial post remain.The enlarging debtAfghan war.       The pres wants to accept zero responsibility for these items, yet he's been a MAJOR addition to the problem.JScott comment in part-- "you can try and distract from the discussion at hand by bringing up obama blah, blah, blah"Hello!!