The difference between your basis and the adjusted sales prices is your gain.Interest is a deductible expense, principal is not.Depreciation for all residential properties is based on 27.5 year schedule.

That all seems very nice and clean, but in reality its a dirty process, too. The

If you're making active, or earned, income, then you'll pay more taxes than you should by operating through a sole proprietorship or through an LLC taxed as either a sole proprietorship or a partnership.On the other hand, If you're receiving passive income from property rentals, then an LLC taxed as either a sole owner (Schedule E) or a partnership will save you tax dollars you'd otherwise spend if you operated this business through a C or an S Corporation.

The training will help a lot as it will keep you focused on the numbers.The rules here on BP:2% of purchase price for the rent.50% of the gross scheduled income to cover the running costs before debt service.If you find deals that fit the above you can afford to hold them as rentals.John Corey

I called Stan and scheduled to meet him at the house for an estimate...

Doing the actual work (on schedule/budget) shouldn't be a problem, since I'm a contractor - and I have a lot of resources in that area.My biggest concern is the re-sale.

But its not worth my time to schedule it it in, or take on the risk of having to chase the customer for my money.

I have 10-15 closings scheduled in next 2-3 weeks and I am always looking for more properties to buy.

The x husband chose not to tell her until we were scheduled to close and now she's not signing a deed paper that she has to sign for us to close.

Try and schedule the exam Monday Tuesday.