So, I'm hoping someone here can offer up some advice that we're not thinking of.

So, if rates do drop that 5 year PPP can end up being very costly.  

Last thing you want is anything rotting or growing mold up there.

Hi folks, I am closing on a property with my cousin and both of our spouses.

It is amazing what you can find in thrift stores and the like.Plus I put up a ton of large format photos fully framed.

@Jay Hinrichsundefined some markets are just too hot and have too big of players chasing what little land there is and if your going to get anything you have to close..

The cost basis includes:Purchase Price: The amount you paid for the property.Renovation Costs: Add the cost of improvements and remodels that significantly enhance the property's value.Closing Costs: Certain closing costs related to acquiring the property (like title fees) can be added to the basis.You will then allocate the total cost basis between the land (which isn't depreciable) and the building (which is depreciable over 27.5 years for residential properties).If you're unsure about how to allocate between land and building, you can use the allocation percentage from your property tax records or get an appraisal.This post does not create a CPA-Client relationship.

This allowance lets you deduct up to $25,000 in passive real estate losses to offset other income (like W-2 wages).

Hey everyone,I’ve been working in real estate for a little bit now, and like many of you, I’ve found that two big challenges keep coming up:Finding distressed or off-market properties before they get picked up by others.The time-consuming process of property analysis—especially when trying to figure out ROI, ARV, or repair costs quickly.I’m curious how you all are dealing with these issues.

- Do I need to have a business set up?