50% rule video by Brandon

Youtube has a good video on how to do it and save a little $$$.

This is added to the depreciation basis for the dwelling structure, giving you a tax basis of $220K for the dwelling structure (in this example) which you can depreciate over the next 27.5 years.

Account Closed - wow...talk about creative (simple but easy) Love it :) @Brandon Turner - actually found this site because of your killer videos on youtube.

I have been reading articles and watching videos on Bigger Pockets for a few weeks now.

Yes to clarify my comps were multi family dwellings in the area.

Plans and permit for repairsRemove all partitions - including plumbing and electric - installed in the basement and enclosed porch with one story brick building addition being used as part of 1st floor dwelling unit with out a building permit.Submit plans and obtain permit for all related work to authorize alterations to basement or restore the building to the original state. 4037 - Submit plans and obtain permit for enclosed rear porch and brick one story addition now being used as part of the 1st floor dwelling unit.Window trim and sashes are rottingFailed to maintain the exterior walls of a building or structure free from holes, breaks, loose or rotting boards or timbers and any other conditions which might admit rain or dampness to the wallsKnowingly performed construction work in violation of stop work order.

Personally, I don't mind the C class neighborhoods in my market.I find that my Section 8 renters take great care of my properties if I give them a good product and I am relatively responsive to their needs.There are "professional" section 8 renters out there that take pride in their residence, but find that they are better off keeping a certain income to get their government benefits.I know this is a totally different discussion, but it is amazing how our local, state, and national governments take care of folks if they work the system.You can get great long-term tenants by giving a little personal attention to them and letting them know that you are in the business of taking care of their home and want them to stay there for the long term.The investor receives great returns and the tenant has a nice quality dwelling where they would like to live.A big problem in my market is that a lot of "old school" landlords don't put money back into their investments.  

I want to use them toCheck properties internationally via video call, so let say I'm virtually visiting the property with the seller, realtor & etc at the other side.

So, for the time being let's just say that if you are adding on to a dwelling or: doing electrical work with panels, adding plumbing, changing gas lines, etc. - Stick to pulling a permit or at least use a licensed and insured technician that will warranty his work.