It is not, it has limited application, and for travel expenses it does not apply at all.If you do not have a mileage log, you have to do your best good faith estimate and then pray that you're not audited.

We see this with MF investors as well, chasing the highest IRR%, which looks good on paper, but can end very differently on execution. 

I was able to travel down and see the property just before closing. 

There are inconveniences to investing out of state like traveling to see properties, meeting with contractors, checking work, checking the property condition.

I will reach out when I come back from traveling and start looking at the area. 

He rented the stores for office use, like a travel agency, and the other to a video store, when a barber shop of many years closed up.

I would like to convert the garage into a one bedroom and rent either to another long term tenant or mid term (30 day min for professors or traveling nurses). 

I will figure out what to do with it when I get to $20M, but it will probably just be finding new ways to improve built environment along with travelling more and spending more quality time with fam. 

They're good to have open access to capital/cash/equity to a property ahead of time so you can execute a deal or purchase when the time comes on a split second decision (versus having to apply to a loan at that time which might take 20-45 days to get approved/closed/etc plus by that time you dont know what your future income/credit/assets will be like in order to qualify anyway).The second use is sleep at night factor and having a reserve of capital in the event an emergency event occurs in life.For these two reasons is why I use lines of credit.

I use Executive Villas and they just charged me $500 to repair some table legs and replace the batteries on a remote.