On the other hand, the plaster walls are less likely to allow the urine to soak into them (in the case of spraying) and, if needed, the treatment with the oil based Kiltz should seal any odors in.Gail

Setting up an Accountable Plan is usually the best way of getting the most favorable tax treatment.

For more detailed help with determine structure, read: Loopholes of the Rich: How the rich legally make more money and pay less tax. 3 Reasons why LLC’s and LP’s are best for RE Investing: Capital Gains Treatment - Capital gains flow through to the individual who normally pay less tax than corporations.

Personal property is appliances, carpeting, window treatments, window A/C units, awnings, any kind of floating flooring, kitchen/bathroom cabinets, etc.

So, I pay my CPA to make sure they're right.Sean Brennan note that an LLC is a pass through entity and has no effect at all on your taxes, unless you choose some non-standard tax treatment.

Try http://trends.truliablog.com/vis/rentvsbuy-winter-2013/ for a decent nationwide visual depiction of P/R ratio.

Other relevant info:- My rentals are held in an LLC which has pass-thru treatment for taxes (no S-corp election).- My wife and I do not have enough personal expenses to itemize so we take the standard deduction every year.- My expenses from my rentals, including depreciaiton, have me showing a net loss, but not enough that I have reached the passive activiy loss limit.- My wife's side business has a net profit.The idea would be that since we take the standard deduction, it would be nice to find a way to create an additional deduction on our W2 income by redirecting our contributions through one or both of our businesses to either increase my losses on the rentals up to the passive activity loss limit or reduce her profits on her side business.Obviously this won't help us on our 2013 taxes since I'm just now thinking of this but I'm just wondering if there is any validity to the idea going forward.Thanks!

Apparently this was missed by not only my first closing but a re-fi closing as well,  It was originally filed in 2008 the re filed again in 2013,It is for a water softener and water treatment system,   Note that it was listed on the HUD listing sheet when I bought it in the summer of 2010.Accrued penalties and interest now are about $14000,     The Finance Company that filed this has been less than courteous to not only me but the representative of the bank as this became known,Any suggestions ?

An experienced, licensed Structural or Civil Engineer should be able to get a good idea of the cause visually, and give you an idea of options (excavation and replacement, adding deeper foundation systems to support your existing foundation, etc. - if water is your issue, sometimes just adding some drainage and re-grading your yard can make a huge difference).  

  ;)Capital gains refer to assets held for a sufficient duration to earn favorable tax treatment.