And I agree that it can work in gaining leads.

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

Make no mistake it isn’t quick or especially comfortable but it can definitely be profitable.As for the rent a room thing in most locales I have to wonder if the additional rent is worth the hassles of dealing with the increased time and liability of multiple tenants in one property but that’s a totally different conversation. 

In addition, the company that they recommend we work with, Prime, helped me set up my companies and though I repeatedly asked them if there were any differences in how it was set up because I was a Canadian, I was told that the way they suggested I do it was the right way.

I do have additional coverage for the sewer since I knew it may have issues before I bought the property. 

Why on gods green earth if you can save on commission, gain experience, meet investors and manage your own properties would you want to invest in a market outside of where you are?

Capitalize renovation costs to increase the property’s basis and reduce future taxable gains.

.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.

My goal is to grow this business by expanding my investor network and seeking properties that will allow for additional scalability.

Additionally you can always write in what was done to correct it and explain that since then you no longer had issues.