My (NON-CPA) understanding is this:2 years ago, you could:-Write off the up front mortgage insurance premium-Write off the monthly mortgage insurance premium-You were "grandfathered" into these rules if you bought your home using FHA back then, so you can continue to write off the monthly premium-MIP falls off at 78% of LTVUsing FHA today:-Up front premium no longer tax deductible-Monthly MIP no longer tax deductible-MIP NEVER goes away, regardless of LTVAgain, I suggest you consult with a licensed tax advisor to confirm all of this is precisely accurate.

Basically if you end up FT at a REI, his take on it was you can have phenomenal advantages by being able to access healthcare for your business as a group (you and spouse qualify as a group) and deduct the expense.

All of my financing so far has been standard bank loans, or creative bank financing with non-standard loans and equity lines.

By all means if you decide to take this endeavor to the next level let us know.While James may say its not a way to go some investors do well (small to James standards $2m a yr) but large to most.

Here in Northern California, with standard ranch houses oftentimes pushing $1mil or more, spending a couple thousand on staging is not unreasonable and is quite common.

You only have to pay 8%-12% of your gross income on said property and it is tax deductable!

They will want a standard contract.

what is the standard practice?

Anyone invest for the specific purpose of tax loss deductions?

Hey all,As might or might not know, I live in Montreal, Canada, wich is according to my standards the coldest freakin' place on earth.