Deductible of $1,000 with Lloyds Insurance for Coverage.

Shone Freeman , I'm in the same boat (by Levi Stadium).

Remember many things in real estate are tax deductible which will reduce your tax burden.  

You just have to accept rent checks each month and take the tax deductions.  

Right now they are reported on the K1 in box 17 so that the deduction can be taken on a personal tax return as shareholders's health insurance premiums.Looking for ways to maximize the dedications.

I still have 20K left.I am looking at a used 2010 prius for 10K.Question for the group- should I just keep making payments on the Audi and deduct what I can (about 80% business), or sell and get the Prius in cash and lose the monthly payment?

There is no impact on your taxes, though you may gain more deductible interest - ask your tax professional.The downside is that there is no such thing as a risk-free investment.Hope this helps.By the way - my family hails from the Twin Cities area (St.

Usually when I analyze these properties I deduct mortgage/interest first before deducting money for cap ex, repairs, insurance etc.  

We use it about 2 weeks...and from Nov- May it is not usable due to the fact it isn't insulated, or heated.Taxes were a whopping 14,000 this year, Am I correct in understanding that we can only deduct 47 days/ of 365?

For a business if you do not do 1099s don't plan on using the tax deduction.