Purchase price: $380,000 Cash invested: $19,648 Sale price: $485,000 Not really a portfolio investment as it currently my personal residence, but I'd still consider it an investment.

The IRS generally allows deductions for second homes if you use the property for personal use for more than 14 days or 10% of the days it's rented, whichever is greater. 

They are both solid. 

I want to make sure I have a solid foundation and understand the ins and outs of this type of investing before getting started.

You also might want to consider using the general asset account (GAA) as a strategy to possibly continue depreciating the property before demolishing and rebuilding.Obviously, once you convert the investment property into a personal residence, you lose out on any further deductions from a P&L standpoint.Feel free to DM me if you have any further questions.

If you are a solid investor focused agent, I’d be game to discuss 

Deposits will not be returned (full or partial) until all tenants move out.In the event of abandonment, arrest or death, the following person has the authority to decide when to terminate tenancy and how to store/distribute my belongings:Name: ____________________________________________________Address: ____________________________________________________Phone #: ____________________________________________________

I assign my daily tasks (1 business and 1 personal) to account for 50% of my task points for the day.

I would personally never touch it.

Start going to open houses see properties in person so you can start understanding how to analyze them based on what that particular home might need.