We are closing on a property in Akron.

Investors also appreciate lenders who understand the nuances of rental properties and provide fast, reliable service without unnecessary red tape.

Hi everyone, my name is Jason I'm new here. I'm looking forward to learning about different ways of doing real estate. It's nice to meet you. 

I'm here to learn as much as I can about real estate because I am looking to invest in properties near my area which is metro Detroit.

This all hinges on what you call a "rental property" is actually NOT a rental property in the tax code! 

Say we buy a property for $1 million, but we structure it so it's 0% down but a bank/note buyer is in place at closing to buy the note from the seller at 80% value so they walk away with 800k in cash. 

This allows me to get into a great property and leave the bank out. 

Asking your agent (or other on-the-ground person) to look at the property and take pictures in your place? 

I've never done it, but it's my understanding that not all lenders offer financing for properties held by an LLC.

Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment and software up to an annual limit.In 2024, for example, taxpayers can expense up to $1,220,000 of qualified assets.This election can apply to many types of tangible personal property, such as machinery, equipment, and off-the-shelf software, which are used predominantly in your business.Limits on Section 179 ExpensingAs attractive as Section 179 may seem, there are limits.For tax year 2024, the maximum investment limit is set at $3,050,000.If your business places more than this amount in service, the amount you can expense is reduced dollar-for-dollar over this threshold.In addition to the dollar and investment limits, the amount of your Section 179 deduction cannot exceed your taxable business income for the year.This means that even if your business invests heavily in qualified property, the deduction could be limited by the business’s profitability.Also, not all property qualifies for Section 179.Real property, like buildings and structural components, generally does not qualify unless it is "qualified improvement property."