The date you are able to take depreciation is when the property is ready for renting (i.e. advertising for rent or obtaining a certificate of occupancy).

I once bought a house that had been on the MLS for over a year.

A HELOC is certainly an option if you could pay it off rather quickly or else you'll end up paying a whole lot in interest layer one. 

What do you want to be , a house flipper , or a landlord ?   

You want a hustler, not a top performer, if you want check-ins.

A very encouraging post!

I'm a very conservative investor and may look through a hundred deals a month, and at the end of the year only invest in 4-5.

Talk to me if you want to find out why.

Investment Info:

Single-family residence buy & hold investment in Rocky Hill.

Purchase price: $270,000

We bought our primary residence in 2012. We then purchased 2 houses for investment purposes.

...

I've been reading more about subject to and here's what I've learned:-Good for sellers who are off market-Have low to no equity-Have a mortgage with a low interest rate (less than 5%)-Be absentee or out of state (vacant property, or have a tenant)The buyer would then take over the mortgage payments, and have the seller sign the deed over to the buyer.