If I buy a residential property in Canada to rent it out by using a mortage loan is there a tax deduction on the interest of the loan.On the other hand, if I buy my first residential property to live in then how is this taxations and tax deduction effect on the mortage loan.

He's getting the tax deduction for mortgage interest, so his real payment is probably right about the $1100 market rent.

Your tax deductions/tax shelters through real estate are the means to keep more of what you earn.

PMI became a Schedule A deduction for owner occupied properties in 2007.

Is it truly an inspection where lead paint was found or is it the standard HUD CYA disclosure form.

The seller generally stays on the policy as an additional insured if the lender isn't notified of the sale.The tax deductions go to the person that owns the property...the new buyer.

I deduct all that sort of stuff, also any subscriptions or fees that I have to pay to acquire data. my cpa says that is fine.

Have any of you turned a rental into a residence before January 2009 to be able to not deduct rental or unqualified use time when you sell?

My agent has a 1-page form he usually uses, is this standard or should it be very long with lots of clauses?

You can generally deduct the expenses associated with re-renting, e.g., advertising and tenant screening.