Never took depreciation or upkeep/capital improvement expenses on schedule E but always claimed full rent income.

@Greg Todrank I'm not trying to harp on you, but I do want to stress the importance of improving your processes.

The bank agreed but they are both under the current mortgage.I improved Lot 2 (The home and it's lot) enough to appraise for enough to cover the loan.

I have a bunch of equity built up in a couple of small multi-family properties and I would like to take cash out to do two things: (1) force appreciation by making improvements to currently owned properties, and (2) purchase additional rentals.

Since the home cannot be rented for a year it allowed the year for improvements to drive up rental income.

Seller added the following revision for an AS IS sale:"Buyer hereby represents that he has personally inspected and examined the above referenced premises and all improvements thereon.

Questions:• I'm not sure how much to hold back for Capital improvement.

I have a beautiful wife and 3 wonderful children and my dream is to improve our lives and future and set my children up for success. 

I have a beautiful wife and 3 wonderful children and my dream is to improve our lives and future and set my children up for success.

Took a 90 LTV loan and made a handful of cosmetic improvements.