Operate it as such.

Taxable income or loss is rent received minus three types of expenses: operating expense, depreciation, and mortgage interest expense.Assume the purchase is $92,500, of which $15,000 applies to the land and $77,500 to the building.

I think if you want to structure deals with a lot of "bells and whistles" you might first want to understand the basics of how a straight up, conventional, FHA or other mortgaged purchase operates.3.

If you incorporate federally your chosen name is protected across the country and you can operate your business in any province you register in.

It doesn't give enough hot water to do a load of dishes, but simce it DOES produce hot water, they won't replace it.

The engine will have problems in Your wife's car, tenants will move out in Your other rentals, prices will go up for repairs, hurricanes will come....blah,blah,blah....figure DOUBLE Your original time frame on repairs, ALWAYS.Figure 1/3rd higher costs than quoted estimates, BORROW accordingly.BE the BOY SCOUT.I have, I PREACH it to my borrowers/buyers/investors, & every operates under the "Be Prepared" philosophy;Do these things, & I doubt You'd ever have a "catastrophe".Trust the experts & LET them do their JOBS!

I'm starting to really consider hiring a virtual assistant/ live operator for my toll free number inbound calls.

Thank you,Nicole FergusonChief Operating OfficerAlternative Lending Group951-715-0084 Ext: [email protected]

Where do you operate- which states?

All good stuff, so I'll throw in my two cents, having interviewed several and rejected every one.It just seems like "Oh, you want a gun to shoot me with, AND you want me to load it before I give it to you."