Since your basis was incorrectly set, you may be able to deduct up to $25,000 in missed depreciation, potentially reducing your 2025 tax bill by $7,500 at a 30% tax rate.

I was reading up about it, and saw that the cons of oil heating include needing to top up the oil supply, lower efficiency (than gas and electric), and potential leaking of tanks leading to environmental issues.Is anyone familiar with oil heated homes?

@Apryl Skahill To get your risk-averse spouse on board with real estate investing, start by educating him with beginner-friendly resources that highlight the long-term stability, cash flow potential, and tax benefits of real estate, such as depreciation deductions and offsetting W-2 income.

Title companies perform detailed title searches, revealing all recorded liens and their positions, ensuring you have a clear understanding of any potential encumbrances.

The cleanout is about 10-15 feet from the curb, but they had to snake 70 feet, suggesting a potential city sewer issue.The plumber mentioned that if I report this to the city, they will likely request a secondary cleanout closer to the curb, which I would have to install at my expense (a costly job).

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Adding more guests could strain the space and potentially impact the guest experience and neighborhood relations you've worked hard to cultivate.

But this is really your first touchpoint with potential guests who are scrolling the endless options of airbnb, vrbo, etc.

If you want good cash flow but amazing appreciation potential and rentals you want to hold for the rest of your life, I would definitely consider Columbus!

You are walking into a potential situation that can break your heart, break your bank account, or break your will to ever try this again...Maybe if your lucky, all 3https://phillysheriff.com/property-listing/ Thank you for the information!