Hi, I am on my first flip, live in WA state found a partner in Ohaio, the rehab is in OH.

However, if it is an STR, the depreciable life would be 39 years.

Hopefully you guys can help answer this for me......I live in West Virginia and primarily invest outside the state. 

When you live in that duplex for 2 years and then sell you'll be able to take 50% of the profit tax free (the allocation for the side you lived in). 

Another idea for housing economy if you have an office is to rig your office to live in but not sleep in. 

Is the basement legally considered living space?

Purchase price: $645,000 Cash invested: $60,000 Two Unit property with lots of living space3000 sqftOne parking spotBrand new kitchen addedW/D in both unitsGood for Long term / Mid Term / Short Term What made you interested in investing in this type of deal?

As I tell a lot of my investor clients I work with, with any real estate that you buy, you want to hold for the rest of your life!

We now live in Arizona and I frequently fly back to the southeast to repair or inspect the properties and already deduct the travel, lodging, and half of the meal expenses from my taxes. 

House Hacking using the VA loan to live on one side while renting the other is great.2.